ACE TRACK: ValuePart's Bid to Stay Infringement Suit Granted------------------------------------------------------------Judge Jon P. McCalla of the United States District Court for theWestern District of Tennessee, Western Division, granted ValuePart,Inc.'s motion to stay a lawsuit filed by USCO S.p.A.

On July 30, 2014, USCO filed a complaint asserting allegations ofinfringement of U.S. Patent No. 6,412,267 against VPI, ACE TrackCo., Ltd., and REONE Track Co., Ltd. The 267 patent protects a"method of manufacturing an openable link of a track." VPI filed amotion to stay proceedings. USCO argued that it will sufferprejudice as a result of a stay of proceedings "because the averagependency of an ex parte reexamination would leave little or no lifeto the '267 Patent for injunctive relief."

Judge McCalla ordered that all proceedings in the case are stayeduntil the latter of (1) a final determination of the reexaminationof the '267 patent; or (2) lifting of the automatic stay ofproceedings as to ACE Track.

Judge McCalla held that although a delay of 20-27 months in theproceedings is not insignificant, the delay is not overlyburdensome when compared to the potential for substantialexpenditure on duplicative proceedings absent a stay ofproceedings. The judge also found that a stay of proceedingspending reexamination of the '267 patent will simplify the issuesin the instant case, and that the current stage of litigation isnot so advanced that a stay would be harmful.

In addition to a stay of proceedings pending reexamination of the'267 patent, VPI also requested for the extension of ACE Track'sautomatic stay to include VPI.

Judge McCalla found that an identity of interests exists betweenVPI and ACE Track and that an extension of the automatic stay toinclude VPI is appropriate. The judge also found that theprinciples of the customer suit exception favor a stay ofproceedings pending conclusion of ACE Track's bankruptcyproceedings.

ADAMIS PHARMACEUTICALS: Posts $3.6 Million Net Loss for Q2----------------------------------------------------------Adamis Pharmaceuticals Corporation filed with the Securities andExchange Commission its quarterly report on Form 10-Q disclosing a net loss of $3.6 million on $0 of revenue for the three monthsended June 30, 2015, compared to a net loss of $2.8 million on $0of revenue for the same period during the prior year.

The Company reported a net loss of $6.7 million on $0 of revenuefor the six months ended June 30, 2015, compared to a net loss of$4.4 million on $0 of revenue for the same period a year ago.

As of June 30, 2015, the Company had $16.9 million in total assets,$2.1 million in total liabilities and $14.8 million in totalstockholders' equity.

Bankruptcy Warning

"Our management intends to attempt to secure additional requiredfunding through equity or debt financings, sales or out-licensingof intellectual property assets, seeking partnerships with otherpharmaceutical companies or third parties to co-develop and fundresearch and development efforts, or similar transactions. However,there can be no assurance that we will be able to obtain anyrequired additional funding. If we are unsuccessful in securingfunding from any of these sources, we will defer, reduce oreliminate certain planned expenditures and delay development orcommercialization of some or all of our products. If we do nothave sufficient funds to continue operations, we could be requiredto seek bankruptcy protection or other alternatives that couldresult in our stockholders losing some or all of their investmentin us," the Company stated in the report.

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTCQB: ADMP) is a biopharmaceutical company engaged in thedevelopment and commercialization of specialty pharmaceutical andbiotechnology products in the therapeutic areas of respiratorydisease, allergy, oncology and immunology.

Mayer Hoffman McCann, P.C., in San Diego, California, issued a"going concern" qualification on the consolidated financialstatements for the transition period ended Dec. 31, 2014, citingthat the Company has incurred recurring losses from operations, andis dependent on additional financing to fund operations.

The Company disclosed a net loss of $9.31 million on $0 of revenuefor the nine months ended Dec. 31, 2014, compared to a net loss of$8.15 million on $0 of revenue for the 12 months ended March 31,2014.

AE CONCRETE: Files Bankr. in Ontario; Creditors Meeting on Aug. 24------------------------------------------------------------------A.E. Concrete Precast Products Ltd. and its debtor-affiliates eachfiled a voluntary assignment in bankruptcy on July 31, 2015, inOntario, Canada. Armtec LP, which carries on the businesspreviously operated by certain of entities, has not filed anassignment in bankruptcy.

The first meeting of creditors will be held on Aug. 24, 2015, atthe offices of Ernst & Young Inc., located at 222 Bay, 31st Floorin Toronto, Ontario at these times:

AEMETIS INC: Posts $6.3 Million Net Loss for Second Quarter-----------------------------------------------------------Aemetis, Inc. filed with the Securities and Exchange Commission itsquarterly report on Form 10-Q disclosing a net loss of $6.3 millionon $38.1 million of revenues for the three months ended June 30,2015, compared to net income of $2.7 million on $57.2 million ofrevenues for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $14.9 million on $72.8 million of revenues compared to netincome of $10.4 million on $117.8 million of revenues for the sameperiod a year ago.

As of June 30, 2015, the Company had $91.1 million in total assets,$114.8 million in total liabilities and a $23.7 million totalstockholders' deficit.

Cash and cash equivalents were $3.3 million at June 30, 2015, ofwhich $2.2 million was held in the Company's North Americanentities and $1.1 million was held in the Company's Indiansubsidiary. The Company's current ratio at June 30, 2015, was 0.41compared to a current ratio of 0.29 at Dec. 31, 2014. The Companyexpects that its future available capital resources will consistprimarily of cash generated from operations, remaining cashbalances, EB-5 program borrowings, amounts available for borrowing,if any, under the Company's senior debt facilities and oursubordinated debt facilities, and any additional funds raisedthrough sales of equity.

Cupertino, Calif.-based Aemetis, Inc., is an internationalrenewable fuels and specialty chemical company focused on theproduction of advanced fuels and chemicals and the acquisition,development and commercialization of innovative technologies thatreplace traditional petroleum-based products and convert first-generation ethanol and biodiesel plants into advancedbiorefineries.

ALEXZA PHARMACEUTICALS: Incurs $12.4 Million Net Loss in Q2-----------------------------------------------------------Alexza Pharmaceuticals, Inc. filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net loss of $12.4 million on $1.8 million of total revenue forthe three months ended June 30, 2015, compared to a net loss of$5.9 million on $1.5 million of total revenue for the same periodin 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $12.8 million on $2.5 million of total revenue compared toa net loss of $16.7 million on $3.6 million of total revenue forthe same period during the prior year.

As of June 30, 2015, the Company had $32.6 million in total assets,$96.5 million in total liabilities and a stockholders' deficit of$63.9 million.

"We continue to see the incremental growth in the ADASUVE globallaunch. ADASUVE is now available in 18 countries and we seecontinued increases in the number of hospitals stocking and usingthe product," said Thomas B. King, president and CEO of AlexzaPharmaceuticals. "Importantly, we believe the sales during theADASUVE launch do not reflect the clinical benefits ADASUVE canconvey to patients, and we remain confident in ADASUVE's long-termcommercial prospects. Feedback from physicians and patientscorroborate the positive clinical profile we observed with ADASUVEduring its clinical development."

Mountain View, California-based Alexza Pharmaceuticals, Inc., wasincorporated in the state of Delaware on Dec. 19, 2000, as FaxMed,Inc. In June 2001, the Company changed its name to AlexzaCorporation and in December 2001 became Alexza Molecular DeliveryCorporation. In July 2005, the Company changed its name to AlexzaPharmaceuticals, Inc.

The Company is a pharmaceutical development company focused on theresearch, development, and commercialization of novel proprietaryproducts for the acute treatment of central nervous systemconditions.

Alexza Pharmaceuticals reported a net loss of $36.7 million in 2014compared to a net loss of $39.6 million in 2013.

Ernst & Young LLP, in Redwood City, California, issued a "goingconcern" qualification on the consolidated financial statements forthe year ended Dec. 31, 2014, citing that the Company has recurringlosses from operations and has a net capital deficiency that raisesubstantial doubt about its ability to continue as a going concern.

According to the report, the Debtors assert that the equitycommittee has become a financial drain, with current and formerprofessionals seeking more than $850,000 in combined fees.

About Allied Nevada

Allied Nevada Gold Corp. (OTCMKTS: ANVGQ), a Delaware corporation,is a U.S.-based gold and silver producer engaged in mining,developing and exploring properties in the State of Nevada. ANVwas spun off from Vista Gold Corp. in 2006 and began operations inMay 2007. Nevada-based mining properties acquired from Vistainclude the Hycroft Mine, an open-pit heap leach operation located54 miles west of Winnemucca, Nevada. ANV controls 75 explorationproperties throughout Nevada as of Dec. 31, 2014.

ANV disclosed $941 million in total assets and $664 million intotal debt as of Dec. 31, 2014.

The U.S. Trustee appointed three creditors of the company to serveon the official committee of unsecured creditors. The Committeeretained Arent Fox LLP as co-counsel, and Polsinelli PC asconflicts counsel. It hired Zolfo Cooper, LLC as bankruptcyconsultant and financial advisors, and Upshot Services LLC asinformation agent.

Allied Nevada Gold Corp., et al.'s joint plan of reorganizationincorporates the terms of the prepetition plan support agreementreached by the Debtors with holders of at least 67% of theaggregate outstanding principal amount of the Notes and 100% oftheHolders of Secured ABL Claims and Secured Swap Claims.

Pursuant to the plan support agreement, each Holder of an AllowedSecured ABL Claim will receive (i) its Pro Rata share of theSecured ABL/Swap Cash Payments not made prior to the EffectiveDateand (ii) an amount of New First Lien Term Loans in an aggregateprincipal amount equal to (A) the amount of allowed claimspursuantto Section 2.7(b) of the Plan minus (B) the amount paid in cash inrespect of the Secured ABL Claims pursuant to clause (i) ofSection2.7(c) of the Plan. In addition, for the avoidance of doubt, anyunpaid amounts owed to the holders of Secured ABL Claims pursuantto Section 11 of the DIP Facility Order will be due and payable incash on the Effective Date.

A hearing will be held before Judge Walrath on August 20, 2015, at11:30 a.m. (Prevailing Eastern Time), to consider approval of thedisclosure statement explaining the Plan.

ALLISON TRANSMISSION: Fitch Hikes Issuer Default Ratings to 'BB'----------------------------------------------------------------Fitch Ratings has upgraded the Issuer Default Ratings (IDRs) forAllison Transmission Holdings, Inc. (ALSN) and its AllisonTransmission, Inc. (ATI) subsidiary to 'BB' from 'BB-'. Inaddition, Fitch has upgraded the ratings on ATI's secured termloans and secured revolving credit facility to 'BB+' from 'BB' andassigned a Recovery Rating of 'RR1'. A full list of the ratingactions follows at the end of this release.

The ratings apply to $2.4 billion in secured term loans and a $465million secured revolving credit facility. The Rating Outlooks forALSN and ATI are Stable.

KEY RATING DRIVERS

The upgrade of the ratings of ALSN and ATI is driven by theimprovement in the company's credit profile as it has steadilyreduced debt over the past several years while producing highmargins and strong free cash flow (FCF). The company continues tolead the global market for fully automatic transmissions forcommercial vehicles, industrial machinery and military equipment.ALSN has a very strong market position in North America, with 95%of all school buses and nearly three-quarters of medium-dutycommercial trucks manufactured with the company's transmissions in2014. In addition, over half of the Class 8 straight trucks andnearly half of the Class A motorhomes sold in North America in 2014were manufactured with the company's transmissions, and unlike mostTier 1 suppliers, ALSN's brand name commands a price premium fromend users. Fitch expects the market for on-highway automatictransmissions to continue growing in North America as operatorsseek to improve fuel economy and as they look to grow the pool ofavailable drivers. Automatic transmissions help in this regard asthey do not require the skills needed to shift a manualtransmission.

ALSN's market position outside North America is significantlysmaller, as commercial vehicles in most global markets continue tobe produced with manual transmissions. Nonetheless, globalacceptance of fully automatic transmissions is growing,particularly for certain vocations, such as buses and emergencyvehicles. This has been particularly true in emerging markets likeChina and India, where ALSN is well positioned for future growthopportunities. Over time, Fitch expects developing markets tofollow the lead of North America in embracing the benefits ofautomatic transmissions as well.

Fitch's concerns continue to include the heavy cyclicality of theglobal commercial vehicle and industrial equipment markets,volatile raw material costs, the lack of global diversification inALSN's current business, moderately high leverage and aconcentrated debt maturity schedule. However, credit facilityamendments over the past three years have shifted nearly 90% ofALSN's term loan maturity obligations to 2019, removing thecompany's near-term refinancing risk, and the company's strongprofitability and FCF generating capability provide it withmeaningful financial flexibility to weather economic cycles. It isalso notable that ALSN's transmissions are currently used primarilyin the vocational truck market, which tends to be less cyclicalthan the manual transmission-dominated Class 8 linehaul market.Nevertheless, a broad-based global downturn in commercial vehicleand industrial equipment production would likely pressure ASLN'sprofitability and FCF.

Although ALSN's leverage is somewhat high for the rating category,the company has consistently used FCF over the past several yearsto reduce debt, including a $255 million decline in the 12 monthsended June 30, 2015. However, Fitch does not expect further debtreduction to be a significant priority going forward as thecompany's net leverage has declined to slightly below its targetedrange (net debt/adjusted EBITDA, as calculated by the company) of3x to 3.5x. A strong liquidity position, modest pensionobligations, and manageable near-term debt service requirements areother credit positives. In April 2015, ATI increased its term loanB-3 by $470 million and used the proceeds to fully redeem its $471million in 7.125% senior unsecured notes due 2019. Following theredemption, all of the company's remaining debt is comprised ofsecured term loans.

ALSN's credit profile is characterized by relatively high margins,strong FCF and moderate leverage. Fitch-calculated leverage(debt/Fitch-calculated EBITDA) at June 30, 2015, was 3.2x, with$2.4 billion in debt and last 12 months (LTM) Fitch-calculatedEBITDA of $762 million. The Fitch-calculated EBITDA margin, at36.1%, remained very strong for a capital goods manufacturer andwas up from 34.5% in the LTM ended June 30, 2014. However, Fitchexpects leverage may trend up slightly to the mid-3x range byyear-end of 2015 as EBITDA declines on lower sales volumes. Fundsflow from operations (FFO) adjusted leverage was 3.5x at June 30,2015, down from 4x at June 30, 2014.

With consistently strong FCF and all of its debt in the form ofterm loans, ALSN has the financial flexibility to reduce leveragefurther in the intermediate term if it chooses to do so, although,as noted earlier, the company's net leverage has declined slightlybelow its targeted range. As such, Fitch expects the company willprioritize cash returns to shareholders over further discretionarydebt reduction. That being said, the company's strong liquidityposition at June 30, 2015 was more than sufficient to meet itsnear-term cash obligations and included $217 million in cash andcash equivalents, augmented by $456 million in availability on its$465 million secured revolving credit facility (after accountingfor $9.2 million in letters of credit).

Over the past two years, Carlyle and Onex fully exited theircollective equity stake in ALSN. Although Fitch did not previouslyview the concentrated ownership structure as a significant creditrisk, it is nonetheless a mild credit positive that the company'sownership base has become more diversified. However, the companyhas recently begun to focus more heavily on returning cash toshareholders through dividends and share repurchases now that itsshareholder composition is less concentrated and as it has reachedits net leverage target range of 3.0x to 3.5x. The companycurrently has board authorization to repurchase up to $500 millionin shares, which it plans to complete by year-end 2016. ThroughJuly 28, 2015, the company had repurchased $208 million in sharesin 2015.

Although ALSN's shareholder composition is now less concentrated,ValueAct Capital has accumulated an equity stake in the company ofnearly 11%, making it ALSN's largest shareholder. In December 2014,ALSN and ValueAct entered into a cooperation agreement pursuant towhich the company gave ValueAct the option of having theirrepresentative join ALSN's Board of Directors, and in return,ValueAct agreed to several stipulations regarding its trading inthe company's stock and limiting its ability to influence thecompany's corporate governance. ValueAct's representative joinedALSN's Board of Directors in May 2015. Fitch views the cooperationagreement favorably and does not believe ValueAct's ownership stakeor Board representation poses a meaningful risk to creditors.

Fitch expects FCF to remain solid over the intermediate term andFCF margins to remain strong by industry standards. LTM FCF was$390 million at June 30, 2015, leading to a strong 18.5% FCFmargin. FFO was $579 million in the LTM period, with workingcapital using a modest $31 million in cash. LTM capital spendingwas $56 million, equal to only 2.7% of revenue. The company hasguided to full-year 2015 capital spending in the range $60 millionto $70 million, and with no significant plant construction activityexpected over the intermediate term, capital spending needs arelikely to remain relatively low over the next several years. ALSNinstituted a common stock dividend in 2012 and spent $102 millionon dividends in the LTM period ended June 30, 2015, which isincluded in Fitch's FCF calculation.

ALSN's pension obligations are modest, with an overfunded status of$1.8 million as of year-end 2014. The company's salaried pensionplan was closed to new entrants in 2007, and its hourly plan wasclosed to new entrants in 2008. Benefits for hourly employees whoretired prior to Oct. 2, 2011, are covered under General MotorsCompany's (GM) hourly plan. Fitch does not view ALSN's pensionobligations as a meaningful credit risk.

The secured revolver and term loans that comprise ATI's creditfacility are rated at 'BB+/ RR1', one notch above ATI's IDR, due totheir collateral coverage, which includes virtually all of ATI'sassets. Fitch notes that property, plant, and equipment andintangible assets (including intellectual property) comprised $1.9billion of the $4.7 billion in assets on ALSN's consolidatedbalance sheet at June 30, 2015. In April and May 2015, ATI fullyredeemed its senior unsecured notes with proceeds from its upsizedterm loan B-3.

KEY ASSUMPTIONS

-- Overall demand remains mixed in 2015, with continued weakness in the global off-highway and defense end markets, flat to slightly better demand in the on-highway market outside the U.S. and relatively strong demand in the North American on- highway market;

-- Margins are forecast to be relatively steady through the forecast period, with EBITDA margins in the mid-30% range;

-- Capital spending equals about 3.5% of annual revenue for the next several years;

-- The company produces over $300 million in free cash flow annually, equating to free cash flow margins in the 15% to 17%

range; -- The company completes its current $500 million share repurchase program in 2016 and continues to use share repurchases to regulate its cash position going forward.

RATING SENSITIVITIES

Positive: With the company having achieved its net leverage target,Fitch does not expect to upgrade the ratings of ALSN or ATI in theintermediate term. However, future developments that may,individually or collectively, lead to a positive rating actioninclude:

-- A decline in Fitch-calculated EBITDA leverage to below 3.0x; -- An increase in the global diversification of its revenue base; -- Maintaining EBITDA and FCF margins at or above current levels; -- Continued positive FCF generation in a weakened demand environment.

-- A sustained significant decline in EBITDA margins or an extended period of negative FCF; -- A competitive entry into the market that results in a significant market share loss; -- An increase in leverage to above 4.0x for a prolonged period; -- A merger or acquisition that results in higher leverage or lower margins over an extended period.

Citigroup Global will replace the current lender General ElectricCapital Credit, Jdsupra.com says.

The report states that the next hearings in the bankruptcy case areset for Sept. 1, 2015. The report adds that prior to that date,the creditors' committee will likely be appointed by the U.S.Trustee.

According to Jdsupra.com, a business plan is being prepared whichwill likely include a future downsizing of coal operations anddiversification into natural gas.

Jdsupra.com relates that the Bankruptcy Court also approved duringthe first-day hearings the Company's motion to: (i) pay out anaggregate of $44.5 million toward prepetition obligations owed toessential suppliers; (ii) provide assurance to vendors that theywill be paid for the provision of post-petition goods and servicesas a Chapter 11 administrative expense; (iii) pay goods sold in theordinary course of business within 20 days prior to the bankruptcyfiling as an administrative expense.

Seekingalpha.com reports that the low bond prices and a stock priceof $.035 indicate investors are expecting little recovery from theCompany's Chapter 11 filing. According to the report, the assetsof $10.1 billion will be drastically written down and mine clean-upcosts will effectively increase the reported $7.1 billionliability. The report says that there seems to be no sense ofurgency for the Company to exit Ch 11 because the coal industry isin terrible condition.

The Company owes the state of Wyoming $411 million in minereclamation costs, The Associated Press relates. The state's toplegal adviser is trying to determine where Wyoming sits at thetable as the bankruptcy process proceeds, the report says, citingDepartment of Environmental Quality spokesperson Keith Guille.

Benjamin Storrow at Casper Star-Tribune recalls that stateregulators gave the Company 90 days in May 2015 to pay the debt,after the Company a financial test which would have qualified thecompany for a program called self-bonding that allows mining firmsto use their assets as collateral on their cleanup costs.

About Alpha Natural

Alpha Natural -- http://www.alphanr.com-- is a coal supplier, ranked second largest among publicly traded U.S. coal producers asmeasured by 2014 consolidated revenues of $4.3 billion.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)and its affiliates filed separate Chapter 11 bankruptcy petitionson Aug. 3, 2015, listing $9.9 billion in total assets as of June30, 2015, and $7.3 billion in total liabilities as of June 30,2015. The petition was signed by Richard H. Verheij, executivevice president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the case.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,Esq., at Jones Day serve as the Debtors' general counsel.

As of Dec. 31, 2014, the Company operated 60 mines and 22 coalpreparation plants in Northern and Central Appalachia and thePowder River Basin, with approximately 8,900 employees.

Alpha Natural reported a net loss of $874.9 million in 2014, a netloss of $1.1 billion in 2013 and a net loss of $2.4 billion in2012.

* * *

As reported by the TCR on June 4, 2015, Standard & Poor's RatingsServices said it lowered its corporate credit rating on AlphaNatural Resources Inc. to 'CCC+' from 'B'.

The TCR reported on April 8, 2015, that Moody Investor's Servicedowngraded the corporate family rating of Alpha Natural Resources,Inc. to Caa3 from Caa1 and the probability default rating toCaa3-PD/LD from Caa1-PD.

AMERICAN BANCORPORATION: Carl Marks Acted as Advisor on Sale------------------------------------------------------------Carl Marks Securities LLC on July 30 disclosed that it acted asinvestment banker and exclusive financial advisor to AmericanBancorporation in the sale of substantially all of its assetspursuant to Sec. 363 of the U.S. Bankruptcy Code. The sale of theassets of the Minnesota-based bank holding company, which closed onJune 18, 2015, generated net proceeds of approximately $24million.

Engaged by the Board of Directors, Carl Marks led the transactionfor American Bancorporation. After an initial marketing periodthat involved a substantial number of parties, Carl Marks helpedstructure a unique stalking horse agreement in which Deerwood Bankwould purchase either the bank subsidiary in a stand-alonetransaction, or the bank and its wholly-owned mortgage subsidiarycombined, at the discretion of American Bancorporation. Thisunique and flexible structure allowed for a highly competitiveauction in which the bank and the mortgage subsidiary wereultimately agreed to be sold to two separate buyers, Deerwood Bankand OSP, LLC.

"We are very pleased to have brought the sale of AmericanBancorporation to a successful conclusion, leveraging our deepexperience in the community banking sector to help guide the Boardthrough a challenging process," said Evan Tomaskovic, CEO of CarlMarks Securities. "We expect to see a significant surge in mergersand acquisitions in the community banking sector over the next 12months," added Mr. Tomaskovic.

Legal counsel was provided by Lindquist & Vennum LLP, led bypartners George Singer and Scott Coleman.

Judge Katherine A. Constantine handles the case. She has enteredan order for relief, officially placing American Bancorporation inChapter 11.

Judge Kathleen H. Sanberg was originally assigned to the case butshe disqualified herself in the case, according to her May 1, 2014order of recusal.

ANACOR PHARMACEUTICALS: Reports 2nd Qtr. 2015 Financial Results---------------------------------------------------------------Anacor Pharmaceuticals, Inc., reported a net loss of $13.2 millionon $21.3 million of total revenues for the three months ended June30, 2015, compared to a net loss of $24.5 million on $2.9 millionof total revenues for the same period during the prior year.

For the six months ended June 30, 2015, the Company reported a netloss of $26.1 million on $36.6 million of total revenues comparedto a net loss of $45.7 million on $7.1 million of total revenuesfor the same period a year ago.

Cash, cash equivalents and investments totaled $176.9 million atJune 30, 2015, compared to $191.6 million at Dec. 31, 2014. Balances at June 30, 2015, and Dec. 31, 2014 included cash and cashequivalents of $7.5 million and $16 million, short-term andlong-term investments of $167.2 million and $171.9 million andrestricted investments of $2.2 million and $3.7 million,respectively.

"2015 continues to be a very productive year for Anacor. Werecently announced that crisaborole, our novel non-steroidaltopical anti-inflammatory phosphodiesterase-4 (PDE-4) inhibitor indevelopment for the potential treatment of mild-to-moderate atopicdermatitis in children and adults, achieved statisticallysignificant results on all primary and secondary endpoints in twoPhase 3 pivotal studies and demonstrated a safety profileconsistent with previous studies. If approved, we believecrisaborole could offer an important treatment option for the manypatients living with this serious skin disease, as well as thephysicians who treat them," said Paul L. Berns, chairman and chiefexecutive officer of Anacor. "In addition, we are pleased with therecently announced amendment to the Sandoz Agreement. We believethe increased investment in KERYDIN commercial activities will helpincrease brand awareness among the patients suffering fromonychomycosis who are most likely to use KERYDIN, and motivate themto seek treatment from their physicians."

Palo Alto, Calif.-based Anacor Pharmaceuticals (NASDAQ: ANAC) is abiopharmaceutical company focused on discovering, developing andcommercializing novel small-molecule therapeutics derived from itsboron chemistry platform. Anacor has discovered eight compoundsthat are currently in development. Its two lead productcandidates are topically administered dermatologic compounds -tavaborole, an antifungal for the treatment of onychomycosis, andAN2728, an anti-inflammatory PDE-4 inhibitor for the treatment ofatopic dermatitis and psoriasis.

Anacor reported a net loss of $87.1 million on $20.7 million oftotal revenues for the year ended Dec. 31, 2014, compared with netincome of $84.8 million on $17.2 million of total revenues for theyear ended Dec. 31, 2013.

As of March 31, 2015, the Company had $214.88 million in totalassets, $137.34 million in total liabilities, $4.95 million inredeemable common stock and $72.59 million in total stockholders'equity.

APPLIED MINERALS: Incurs $2.7 Million Net Loss in Second Quarter----------------------------------------------------------------Applied Minerals, Inc. filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net lossof $2.7 million on $65,848 of revenues for the three months endedJune 30, 2015, compared to a net loss of $3 million on $47,993 ofrevenues for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $6.9 million on $228,595 of revenues compared to a net lossof $3.4 million on $59,007 of revenues for the same period duringthe prior year.

As of June 30, 2015, the Company had $12.6 million in total assets,$25.9 million in total liabilities and a $13.2 million totalstockholders' deficit.

New York City-based Applied Minerals, Inc. (OTC BB: AMNL) is aleading global producer of halloysite clay used in the developmentof advanced polymer, catalytic, environmental remediation, andcontrolled release applications. The Company operates the DragonMine located in Juab County, Utah, the only commercial source ofhalloysite clay in the western hemisphere. Halloysite is analuminosilicate clay that forms naturally occurring nanotubes.

Applied Minerals reported a net loss of $10.3 million in 2014, anet loss of $13.06 million in 2013 and a net loss of $9.73 millionin 2012.

ARCH COAL: Dispute with Senior Lenders Puts Debt Plan at Risk-------------------------------------------------------------Jodi Xu Klein and Laura J. Keller, writing for Bloomberg News,reported that Arch Coal Inc. is caught in a dispute with seniorlenders that's thwarting its plan to cut debt costs and avoid thefate of four industry peers that have filed for bankruptcyprotection.

According to the report, a group of investors that holds thecompany’s $1.9 billion term loan is seeking to block a proposeddebt swap, which would allow Arch Coal to replace its credit linewith one that has less restrictive terms. The miner's cash andavailable credit is declining toward the $550 million minimummandated by its loan covenants, the Bloomberg report noted.

About Arch Coal

Arch Coal, Inc.'s primary business is the production of thermalandmetallurgical coal from surface and underground mines locatedthroughout the United States, for sale to utility, industrial andsteel producers both in the United States and around the world.TheCompany currently operates mining complexes in West Virginia,Maryland, Virginia, Illinois, Wyoming and Colorado.

Arch Coal reported a net loss of $558.3 million in 2014, a netlossof $641.8 million in 2013 and a net loss of $683.7 million in2012.

As of March 31, 2015, Arch Coal had $8.3 billion in total assets,$6.7 billion in total liabilities and $1.5 billion in totalstockholders' equity.

* * *

The Troubled Company Reporter, on July 8, 2015, reported thatFitch Ratings has downgraded the Issuer Default Rating of ArchCoal, Inc. to 'C' from 'CCC'. The downgrade follows Arch Coal'sannouncements of exchange offers which Fitch considers DistressedDebt Exchanges in accordance with Fitch's Distressed Debt Exchangecriteria.

The TCR, on May 6, 2015, reported that Moody's Investors Servicedowngraded the corporate family rating of Arch Coal, Inc to Caa3from Caa1 and the probability default rating to Caa3-PD fromCaa1-PD. The downgrade follows the continued stress on the coalsector, and the resulting deterioration in the company's creditmetrics. At the same time, Moody's downgraded the ratings on thesenior secured term loan and bank revolving facility to Caa1 fromB2, the second lien notes to Caa3 from Caa1, and all unsecurednotes to Ca, from Caa2. Moody's also affirmed the SpeculativeGrade Liquidity rating of SGL-3. The outlook is negative.

As reported by the TCR on July 9, 2015, Standard & Poor's RatingsServices said it lowered its corporate credit rating on St.Louis-based Arch Coal Inc. to 'CC' from 'CCC+'. Standard & Poor'sRatings Services said it lowered its corporate credit rating onSt.Louis-based Arch Coal Inc. to 'CC' from 'CCC+'. The rating actionreflects Arch Coal's July 3, 2015, announcement of a private debtexchange offer for its senior unsecured debt.

ARICENT TECHNOLOGIES: Moody's Retains B2 CFR on $180MM Acquisition------------------------------------------------------------------Moody's Investors Service said that there is no impact on AricentTechnologies' B2 corporate family rating ("CFR"), B1 (LGD3) firstlien term loan rating or Caa1 (LGD5) second lien term loan rating,following the announcement of a proposed approximate $180 millionacquisition by Aricent of an undisclosed semiconductor design &embedded software company ("Acquisition").

"The downgrade reflects our view that ARM has an unsustainablecapital structure and that it will struggle with weak liquidity andlimited cash flow generation in a low commodity price environment,"said John Thieroff, Moody's VP-Senior Analyst. "While we anticipatethe company will be able to fully access its currently restrictedcash balances through an equity infusion by the company's sponsors,the absence of additional external sources of liquidity and theexpectation of persistent low oil and natural gas prices call intoquestion ARM's ability to cover its interest expense or fundcapital spending in the second half of 2016."

The Caa2 CFR reflects ARM's weak liquidity, poor asset coverage,high leverage, and Moody's view that the company will havedifficulty funding its spending program through 2016; productiongrowth from projected spending is necessary to generate sustainingcash flow over the longer term. The need to reduce to a one-rigdrilling program because of a sharp drop in commodity prices sincelate 2014 has had a dramatic effect on the company's production andgrowth expectations. Compounding the effect of lower drillingactivity is the company's plan to move to an eight well-per-paddrilling program, significantly increasing the time needed to bringnew production online. As a result, Moody's now anticipates 2015and 2016 aggregate production to be only one-third of what Moody'sexpected when the ratings were assigned in July 2014, leading tovery weak cash flow generation in Moody's view. Based on Moody'scommodity price assumptions, the company will not generatesufficient EBITDAX to cover its interest expense through 2016. TheCaa2 rating incorporates the benefits of ARM's natural gas hedgesthat cover about 70% of expected gas production for the remainderof 2015 at favorable prices.

ARM's weak liquidity is reflected by the SGL-4 rating. Even whenincorporating full access to restricted cash balances of $196million as of June 30, 2015 we anticipate that ARM's internallygenerated cash flow and available sources of liquidity will notcover interest expense and capital spending through 2016. BecauseARM's secured net debt to EBITDAX exceeds 4x, the company's privateequity sponsors (The Energy & Minerals Group and First Reserve;both unrated) are required to inject one dollar of equity into ARMfor every three dollars withdrawn as required by the first lienterm loan. As of June 30, 2015, ARM's parent had received $30million of the $65 million necessary to unlock the entire amount. The company has no revolving credit facility. Cash on hand was $18million at June 30, 2015.

The Caa1 rating on ARM's $750 million first-lien term loan is onenotch above the Caa2 CFR. Moody's Loss Given Default Methodologyindicates that the notes could be rated two notches above the CFRbecause of the significant amount of junior debt in the capitalstructure. However, due to what Moody's views as thin asset valuecoverage of the first-lien term loan, Moody's believes a Caa1rating is more appropriate.

The negative outlook reflects the high degree of uncertainty aroundARM's ability to shore up liquidity and the risk of further creditdeterioration. Moody's will downgrade the CFR if the company isunable to raise additional liquidity to fund operations in advanceof the second half of 2016. An upgrade is unlikely in 2015. However, if the company can show a stable to growing productiontrend, EBITDAX to interest coverage above 1.5x, and adequateliquidity, an upgrade could be considered.

The principal methodology used in these ratings was GlobalIndependent Exploration and Production Industry published inDecember 2011. Other methodologies used include Loss Given Defaultfor Speculative-Grade Non-Financial Companies in the U.S., Canadaand EMEA published in June 2009.

Ascent Resources - Marcellus, LLC is a privately-owned independentE&P company headquartered in Oklahoma City, Oklahoma. Thecompany's operations are concentrated in the southern MarcellusShale in northern West Virginia.

ASHER INVESTMENT: Court Dismisses Ch. 11 Case---------------------------------------------The United States Bankruptcy Court for the Central District ofCalifornia dismissed the Chapter 11 cases of Asher InvestmentProperties, LLC, effective March 2, 2015 since it appears that nofurther matters are required that the case remain open or that thejurisdiction of the Court continue.

ATLANTIC & PACIFIC: Faces Objections to Store Sales and Closings----------------------------------------------------------------Joseph Checkler, writing for The Wall Street Journal, reported thatThe Great Atlantic & Pacific Tea Co. is facing opposition to itsplan to quickly sell or close nearly half of its stores inbankruptcy court, including from landlords and the Pension BenefitGuaranty Corp.

According to the Journal, in an August 6 filing with U.S.Bankruptcy Court in White Plains, N.Y., PBGC, the pension insurer,said the grocery chain should change its auction procedures to"encourage assumption" of pension liabilities by a proposed buyer. Pensions for 25,815 A&P workers under multi-employer plans arecurrently underfunded by $302.5 million, according to the filing,the Journal related.

About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific TeaCompany, Inc., and its affiliates are one of the nation's oldestleading supermarket and food retailers, operating approximately300supermarkets, beer, wine, and liquor stores, combination food anddrug stores, and limited assortment food stores across sixNortheastern states. The primary retail operations consist ofsupermarkets operated under a variety of well known trade names,or"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, FoodBasics, The Food Emporium, Best Cellars, and A&P Liquors. TheCompany employs approximately 28,500 employees, over 90% of whomare members of one of twelve local unions whose members areemployed by the Debtors under the authority of 35 separatecollective bargaining agreements.

The Harrison Shopping Center is located on Halstead Avenue in theaffluent community of Harrison, New York (Westchester County). The25,000 square foot shopping center is anchored by an A&P FreshSupermarket which will most likely be replaced by a prominentgrocer, subject to bankruptcy court approval. Other long-termtenants in the shopping center include a bakery, a hair salon, aflorist, restaurants and AT&T. The shopping center was built in1957 by the selling family and has been a mainstay in downtownHarrison for generations.

Willing Biddle, President of Urstadt Biddle Properties Inc. said,"We are very pleased that we continue to acquire grocery-anchoredshopping centers in the metro-NY market in a challengingacquisitions environment. Harrison is an important commuter townand we now own the best position in town, directly across from theMetro-NY train station with express service to Manhattan."

James Aries, Director of Acquisitions at Urstadt Biddle PropertiesInc. adds, "Our long-standing relationship with the selling familywhich began in a management role, enabled us to close on thisacquisition quickly and quietly which was critical to the sellingfamily. Harrison is less than 10 miles from our home office inGreenwich, CT and we look forward to making improvements to thecenter which will largely be driven by the replacement grocer."

About Urstadt Biddle

Urstadt Biddle Properties Inc. is a self-administered equity realestate investment trust, which owns or has equity interests in 74properties containing approximately 5.2 million square feet ofspace. Listed on the New York Stock Exchange since 1969, itprovides investors with a means of participating in ownership ofincome-producing properties. It has paid 182 consecutive quartersof uninterrupted dividends to its shareholders since its inceptionand raised its dividends to its shareholders for the last 21consecutive years.

About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific TeaCompany, Inc., and its affiliates are one of the nation's oldestleading supermarket and food retailers, operating approximately 300supermarkets, beer, wine, and liquor stores, combination food anddrug stores, and limited assortment food stores across sixNortheastern states. The primary retail operations consist ofsupermarkets operated under a variety of well known trade names, or"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, FoodBasics, The Food Emporium, Best Cellars, and A&P Liquors. TheCompany employs approximately 28,500 employees, over 90% of whomare members of one of twelve local unions whose members areemployed by the Debtors under the authority of 35 separatecollective bargaining agreements.

BAHA MAR: Can Appeal Rejection of Recognition of Ch.11 Proceedings------------------------------------------------------------------Baha Mar on Aug. 4 stated it is gratified that the Supreme Court ofThe Bahamas has granted leave to appeal the Court's decision toreject Baha Mar's application seeking the recognition of the U.S.Chapter 11 proceedings in the Delaware Court.

The Debtors' investment banker and financial advisor is MoelisCompany LLC. The Debtors' claims and noticing agent is Prime ClerkLLC.

BAXANO SURGICAL: Court Amends Final DIP Order---------------------------------------------The U.S. Bankruptcy Court in Delaware issued an order modifying itsfinal order that approved a $425,000 financing to get BaxanoSurgical Inc. through bankruptcy.

The revised order authorizes the company to use cash collateral topay post-petition operating expenses and other administrativeexpenses without regard to any budget.

The term "maturity date" is also replaced with the earlier of theeffective date of Baxano Surgical's Chapter 11 plan ofreorganization, and September 22, 2015, solely for purposes of thecompany's continued use of cash collateral, according to the courtfiling.

Based in Raleigh, North Carolina, Baxano Surgical Inc. develops,manufactures and markets minimally invasive medical productsdesigned to treat degenerative conditions of the spine affectingthe lumbar region. As of March 31, 2013, over 13,500 fusionprocedures and 7,000 decompression procedures have been performedglobally using its products.

The Debtor, in its amended schedules, disclosed $24,810,590 inassets and $26,984,139 in liabilities as of the Chapter 11 filing.

The Debtor has tapped John D. Demmy, Esq., at Stevens & Lee, P.C.,in Wilmington, Delaware, as bankruptcy counsel. The Debtor is alsoemploying the law firm of Goodwin Proctor LLP as special counsel,and the law firm of Hogans Lovell as special healthcare regulatorycounsel. The Debtor is engaging Tamarack Associates to, amongother things, provide John L. Palmer as CRO. Houlihan Lokey isserving as the Debtor's investment banker. RustConsulting Omni is the claims and noticing agent.

The Debtor filed with the Court a Chapter 11 liquidating planfollowing the sale of all of its operating assets.

Following the Effective Date, a liquidation trustee will liquidatethe remaining accounts receivable, rights to return of deposits,refunds of unearned insurance premiums and preference claims. Inaddition, assuming a law firm can be identified that is willing toundertake an investigation of the viability of any Causes of Actionagainst current and former directors and officers, on termsacceptable to the Liquidation Trustee, the investigation will beundertaken.

BUILDERS FIRSTSOURCE: Posts $3.5 Million Net Income in Q2---------------------------------------------------------Builders Firstsource, Inc., filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing net incomeof $3.5 million on $461.5 million of sales for the three monthsended June 30, 2015, compared to net income of $10.6 million on$426.5 million of sales for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $3.5 million on $832.5 million of sales compared to netincome of $7.2 million on $772.4 million of sales for the sameperiod during the prior year.

As of June 30, 2015, the Company had $662.4 million in totalassets, $614.2 million in total liabilities and $48.1 million intotal stockholders' equity.

Headquartered in Dallas, Texas, Builders FirstSource --http://www.bldr.com/-- is a supplier and manufacturer of structural and related building products for residential newconstruction. The Company operates 56 distribution centers and 56manufacturing facilities in nine states, principally in thesouthern and eastern United States. Manufacturing facilitiesinclude plants that manufacture roof and floor trusses, wallpanels, stairs, aluminum and vinyl windows, custom millwork andpre-hung doors. Builders FirstSource also distributes windows,interior and exterior doors, dimensional lumber and lumber sheetgoods, millwork and other building products.

Builders Firstsource reported net income of $18.2 million on $1.60billion of sales for the year ended Dec. 31, 2014, compared to anet loss of $42.7 million on $1.48 billion of sales in 2013.

* * *

As reported by the TCR on May 15, 2013, Standard & Poor's RatingsServices Inc. said it raised its corporate credit rating onDallas-based Builders FirstSource to 'B' from 'CCC'. "The upgradeacknowledges U.S.-based building materials manufacturer anddistributor Builders FirstSource's 'strong' liquidity based on thecompany's proposed recapitalization," said Standard & Poor's creditanalyst James Fielding.

In the May 13, 2014, edition of the TCR, Moody's Investors Serviceupgraded Builders FirstSource's Corporate Family Rating to 'B3'from 'Caa1'. The upgrade reflects Moody's expectation that BLDR'soperating performance will continue to benefit from improvedhousing construction, repair and remodeling.

CAESARS ENTERTAINMENT: Examiner to Issue Findings Later This Year-----------------------------------------------------------------Maria Chutchian at Debtwire reports that Caesars EntertainmentCorporation is working with an independent examiner, who is chargedwith reviewing the pre-bankruptcy asset transfers and is expectedto issue his complete findings later this year.

According to Debtwire, the Company is racing to put plan in placebefore lawsuits trigger bankruptcy, and with litigation chuggingalong and a debt restructuring proposal that has yet to bring inthe necessary support, the Company has to move quickly if it wantsto keep its precarious situation from spiraling completely out ofcontrol.

Debtwire relates that the Company's bankrupt operating unit hasbeen negotiating with a small group of second-priority bondholdersto make a previously proposed debt restructuring deal moreattractive to other creditors. The report states that as part ofthe deal, the Company agreed to make substantial contributions tothe operating entity's estate that court documents indicate couldbe worth around $2.5 billion. The first-priority bondholders backsthat deal, according to the report. In the event of a bankruptcyfiling by the Company, the negotiated mechanics of thatcontribution would presumably need to be rethought, the reportsays.

Debtwire states that the latest version of the proposal offerscreditors new secured debt in exchange for their support, and wouldreduce the operating entity's debt by about $10 billion.

George Zack, writing for Bidnessetc.com reports that the Company'sstock traded higher by almost 10% during the trade on Wednesdayafter the Company posted its second quarter earnings for the fiscalyear 2015, wherein the Company the Company announced earnings thatcame out better than what the analysts had predicted on consensus. Bidnessetc.com relates that adjusted earnings per share clocked inat 10 cents, surpassing the analysts' expectations of a loss of$0.92 by $1.20 per share, while revenues came in at $1.14 billion,reflecting 46.7% decline from a year earlier.

According to Bidnessetc.com, revenues also lagged behind consensusestimate of $1.91 billion by $770 million.

About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,is one of the world's largest casino companies. Caesars casinoresorts operate under the Caesars, Bally's, Flamingo, GrandCasinos, Hilton and Paris brand names. The Company has itscorporate headquarters in Las Vegas. Harrah's announced itsre-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary CaesarsEntertainment Operating Company, Inc., announced that holders ofmore than 60% of claims in respect of CEOC's 11.25% senior securednotes due 2017, CEOC's 8.5% senior secured notes due 2020 andCEOC's 9% senior secured notes due 2020 have signed the Amendedand Restated Restructuring Support and Forbearance Agreement,datedas of Dec. 31, 2014, among Caesars Entertainment, CEOC and theConsenting Creditors. As a result, The RSA became effectivepursuant to its terms as of Jan. 9, 2015.

Caesars Entertainment Corporation is primarily a holding companywith no independent operations of its own. It owns CaesarsEntertainment Resort Properties, LLC ("CERP") and an interest inCaesars Growth Partners, LLC ("CGP"). It also owns 89% of CaesarsEntertainment Operating Company, Inc. ("CEOC"). The results ofCEOC and its subsidiaries are no longer consolidated with CECsubsequent to CEOC's Chapter 11 filing on January 15. CaesarsEnterprise Services, LLC ("CES") provides certain enterpriseservices to properties owned and/or operated by CERP, CGP and CEOC,and this press release at times refers to system-wide trends anddynamics, inclusive of CEOC and its subsidiaries. In thediscussion in this release, the word "CEC" refers to CaesarsEntertainment Corporation without its consolidated entities, andthe words "Company," "Caesars," "Caesars Entertainment,""Continuing CEC," "we," and "our" refer to Caesars EntertainmentCorporation and its consolidated entities, and not CEOC unlessotherwise stated or the context requires otherwise.

"Second quarter performance system-wide was strong, delivering thebest quarterly EBITDA margins since 2007," said Mark Frissora,President and CEO of Caesars Entertainment. "These resultsdemonstrate our ability to deliver growth while driving operationalefficiencies. We are focused on growing the business, continuallyimproving efficiency and expanding margins. To support furtherimprovements in profitability, we plan to invest more in ourhospitality assets across the system, which generate some of thehighest capital returns across the Total Rewards network ofproperties."

Highlights

-- Net revenues for Continuing CEC increased 17.4%year-over-year to $1,141 million mainly due to strong performanceat Caesars Interactive Entertainment ("CIE"), the openings ofHorseshoe Baltimore and The Cromwell, the renovation of The LINQHotel & Casino and continued growth in hospitality amenities in LasVegas.

-- Adjusted EBITDA for Continuing CEC grew 55.6% year-over-yearto $347 million primarily driven by marketing and operationalefficiencies and other EBITDA enhancing initiatives, which resultedin strong flow through from top-line growth.

-- CGP performance attributable to record results in its socialand mobile games business, the additions of Horseshoe Baltimore andCromwell and the renovation of The LINQ Hotel & Casino.

Effective January 15, 2015, CEC deconsolidated CEOC subsequent toits voluntarily filing for reorganization under Chapter 11 of theUnited States Bankruptcy Code. As such, all amounts presented inthis earnings release exclude the operating results of CEOCsubsequent to January 15, 2015. Prior period results have not beenrecast to reflect the deconsolidation of CEOC.

Because CEOC operating results for 2015 are not comparable with2014 as a result of CEOC's deconsolidation, the analysis of ouroperating results in this release will include discussion of thecomponents that remain in the consolidated CEC entity subsequent tothe deconsolidation of CEOC.

Second Quarter 2015 Financial Results

The Company views each casino property and CIE as operatingsegments and aggregate all such casino properties and CIE into fourreportable segments based on management's view of these properties. Segment results in this release are presented consistent with theway Caesars management assesses these results, except that forfinancial reporting purposes our results exclude CEOC resultssubsequent to its deconsolidation. Segment results in this releaseare adjusted for the impact of certain transactions betweenreportable segments within Caesars. Therefore, the results ofcertain reportable segments presented in this release differ fromthe financial statement information presented in their separatefilings. All comparisons are to the same period from the previousyear.

CERP

CERP owns and operates six casinos in the United States, along withThe LINQ promenade and Octavius Tower at Caesars Palace Las Vegas.

Net revenues for the second quarter of 2015 were $566 million, a5.2% increase. Casino revenues were $299 million in the secondquarter 2015, a 6.0% increase primarily driven by higher gamingrevenues due to increases in slot revenues and favorable holdyear-over-year largely at Paris. Room revenues rose 8.7% in thequarter to $138 million due to a 10.5% increase in cash ADR. Foodand beverage revenues in the second quarter of 2015 were $137million, up 2.2% driven by the ramp up of new outlets.

Income from operations of $126 million was primarily attributableto a reduction in operating expenses associated with operationalinitiatives and increased marketing efficiencies as well asimproved profitability in hotel and food and beverage outlets. Favorable hold year-over-year contributed an additional $8 millionin adjusted EBITDA.

CGP Casinos

CGP Casinos owns and operates six casinos in the United States,primarily in Las Vegas.

Net revenues for the second quarter of 2015 were $390 million, a32.6% increase primarily due to the opening of The Cromwell andHorseshoe Baltimore in the second and third quarters of 2014,respectively, and the room renovation of The LINQ Hotel & Casino,which was completed in the second quarter of 2015. Casino revenueswere $245 million in the second quarter of 2015, a 39.2% increasedriven by the addition of Horseshoe Baltimore. However, theCompany did experience lower gaming volumes at Harrah's NewOrleans, which was impacted by the smoking ban that went intoeffect in local bars, restaurants and casinos citywide on April 22,2015. Horseshoe Baltimore performance was also adversely affectedby the civil unrest in the city at the end of April and into May. Room revenue increased 26.2% in the quarter to $82 million as aresult of the completed new rooms at The LINQ Hotel & Casino. Foodand beverage revenues were $66 million in the second quarter of2015, up 15.8%, primarily from the opening of new outlets atHorseshoe Baltimore, The Cromwell and The LINQ Hotel & Casino.

Income from operations of $44 million was primarily driven byincreased revenues and improvements in marketing and operationalefficiencies partially offset by increased expenses associated withthe openings of Horseshoe Baltimore and The Cromwell and managementfees incurred after the acquisition of the four casino propertiesin May 2014. Horseshoe Baltimore and The Cromwell generated anincremental $12 million in adjusted EBITDA in the quarter.

CIE

CIE, a subsidiary of CGP, owns and operates (1) an online gamesbusiness providing social and mobile games and (2) the World Seriesof Poker ("WSOP") and regulated real-money online gaming.

Net revenues for the second quarter of 2015 were $186 million, a28.8% increase driven primarily by strong organic growth in thesocial and mobile games business.

Income from operations of $54 million was primarily driven by theincome impact of increased revenues.

CEOC and CES

CEOC owns and operates 19 casinos in the United States and nineinternationally, most of which are located in England. Managed 15casinos, which included the six CGP casinos and nine casinos forunrelated third parties. Effective October 2014, substantially allthe Company's properties are managed by CES (and the remainingproperties will be transitioned upon regulatory approval).

CES is a joint venture among CERP, CEOC, and a subsidiary of CGPfor which it provides certain corporate and administrative servicesto their casino properties, including substantially all of the 28casinos owned by CEOC and nine casinos owned by unrelated thirdparties (including three Indian tribes) and manages certain assetsfor the casinos to which it provides services and the other assetsit owns, licenses or controls, and employs certain of thecorresponding employees.

A complete copy of the Company's financial results for the secondquarter of 2015 is available for free at:

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,is one of the world's largest casino companies. Caesars casinoresorts operate under the Caesars, Bally's, Flamingo, GrandCasinos, Hilton and Paris brand names. The Company has itscorporate headquarters in Las Vegas. Harrah's announced itsre-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary CaesarsEntertainment Operating Company, Inc., announced that holders ofmore than 60% of claims in respect of CEOC's 11.25% senior securednotes due 2017, CEOC's 8.5% senior secured notes due 2020 andCEOC's 9% senior secured notes due 2020 have signed the Amended andRestated Restructuring Support and Forbearance Agreement, dated asof Dec. 31, 2014, among Caesars Entertainment, CEOC and theConsenting Creditors. As a result, The RSA became effectivepursuant to its terms as of Jan. 9, 2015.

CANAL ASPHALT: CL Consulting Reserves Right to Cash Use Bid-----------------------------------------------------------C.L. Consulting & Management Corp. filed a statement with the U.S.Bankruptcy Court for the Southern District of New York saying itsupports Canal Asphalt, Inc.'s ongoing operations and is notdemanding adequate protection at this time, but reserves all itsrights with respect to the Debtor's request to use cashcollateral.

Canal Asphalt Inc. filed a Chapter 11 bankruptcy petition (Bankr.S.D.N.Y. Case No. 15-23094) on July 31, 2015. The petition wassigned by August Nigro III as president. The Debtor disclosedtotal assets of $20.3 million and total liabilities of $23 million. Goetz Fitzpatrick LLP serves as the Debtor's counsel. Hon. RobertD. Drain presides over the case.

CARLOS CASTILLO: Bank's Bid for Summary Judgment Granted--------------------------------------------------------New York Community Bank moved for summary judgment on its complaintfor foreclosure against Carlos Castillo, contending that Castillobreached his obligations under the terms of his loan agreement andmortgage by failing to tender monthly payments commencing with hisJanuary 1, 2010 payment and subsequent payments thereafter.

Judge Joseph Farneti of the Supreme Court for Suffolk Countygranted NY Community's motion, holding that Castillo failed toraise any triable issues of fact as to a bona fide defense to theaction, like waiver, estoppel, bad faith, fraud, or oppressive orunconscionable conduct on the part of the plaintiff. Judge Farnetialso noted that Castillo does not deny that he has not madepayments of interest or principal on the note.

The case is NEW YORK COMMUNITY BANK, Plaintiff, v. CARLOS CASTILLOA/K/A CARLOS E. CASTILLO: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS,INC. AS NOMINEE FOR OHIO SAVINGS BANK; CAPITAL ONE BANK. "JOHN DOE#1-5", and "JANE DOE #1-5", said names being fictitious, it beingthe intention of Plaintiff to designate any and all occupants,tenants, persons or corporations, if any, having or claiming aninterest in or lien upon the premises being foreclosed herein,Defendant, DOCKET NO. 20063-12, MOTION SEQ. NO. 003-MG (N.Y.).

A full-text copy of Judge Farneti's July 10, 2015 order isavailable at http://is.gd/aMts28from Leagle.com.

CENTRAL ENERGY: Incurs $667,000 Net Loss in Second Quarter----------------------------------------------------------Central Energy Partners LP filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net lossof $667,000 on $686,000 of revenues for the three months ended June30, 2015, compared to a net loss of $97,000 on $1.2 million ofrevenues for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $1.3 million on $1.6 million of revenues compared to a netloss of $408,000 on $2.5 million of revenues for the same periodduring the prior year.

As of June 30, 2015, the Company had $7.4 million in total assets,$9.2 million in total liabilities and a $1.8 million totalpartners' deficit.

Central Energy reported a net loss of $284,000 on $5.07 million ofrevenues for the year ended Dec. 31, 2014, compared to a net lossof $521,000 on $4.75 million of revenues for the year ended Dec.31, 2013.

Montgomery Coscia Greilich, LLP, in Plano, Texas, issued a "goingconcern" qualification on the consolidated financial statements forthe year ended Dec. 31, 2014, citing that Central has incurredrecurring losses and has a deficit in working capital that raisesubstantial doubt about its ability to continue as a going concern.

CHROMCRAFT REVINGTON: To Be Liquidated by Ch. 7 Trustee-------------------------------------------------------Bill Rochelle, a bankruptcy columnist for Bloomberg News, reportedthat the attempted reorganization of Chromcraft Revington Inc. wasconverted to a Chapter 7 liquidation, with the appointment ofseparate trustees for the company and its bankrupt parent.

According to the report, the U.S. Trustee sought conversion toChapter 7 after the secured lender decided to stop providingfinancing for the Chapter 11 effort, which began in March. Thecompany didn't oppose, the report said.

About Chromcraft Revington

Chromcraft Revington, Inc., a Delaware corporation incorporated in1992, is engaged in the design, import, manufacture and marketingof residential and commercial furniture. The Company isheadquartered in West Lafayette, Indiana with furnituremanufacturing, warehousing and distribution operations inSenatobia, Mississippi and Compton, California; and through thesecond quarter of 2013, warehouse and distribution operations inDelphi, Indiana.

As reported in the Troubled Company Reporter on March 9, 2015,KatyStech, writing for Daily Bankruptcy Review, reported thatfurnitureseller Chromcraft Revington Inc., which halted operations lastyear, filed for bankruptcy on March 5 to shut down operationsunderthe court's watch.

COCO BEACH GOLF: U.S. Trustee Objects to Golf Course Sale---------------------------------------------------------Kirk O'Neil, writing for The Deal, reported that Guy G. Gebhardt,Acting U.S. Trustee for Region 21, objected to a proposed sale ofCoco Beach Golf & Country Club SE, a bankrupt Puerto Rico golfcourse that licenses the Trump brand, on grounds that includeconcerns that the $2.04 million purchase price may be too low.

According to the report, the U.S. Trustee asserted that theDebtor's assets, which include two 18-hole championship golfcourses and a luxury clubhouse, were originally transferred to thedebtor by an insider and valued at $16.6 million. The property nowallegedly has a value of $1 million and the stalking-horse bidderOHorizons Global LLC has offered to buy the assets for $2.04million, the report said, citing court papers.

Coco Beach Golf & Country Club, S.E., owner of a first class golfand country club in Rio Grande, Puerto Rico, currently operatingunder the name of Trump International Golf Club Puerto Rico,soughtChapter 11 protection (Bankr. D.P.R. Case No. 15-05312) in Old SanJuan, Puerto Rico, on July 13, 2015, and immediately filed amotionseeking to sell most of the assets for $2.04 million in cash toOHorizons Global, LLC, subject to higher and better offers. Charles Alfred Cuprill, Esq., at Charles A Cuprill, PSC LawOffice,serves as counsel to the Debtor. The case is assigned to JudgeEnrique S. Lamoutte Inclan.

COMMUNICATIONS SALES: Moody's Lowers Corp. Family Rating to 'B2'----------------------------------------------------------------Moody's Investors Service has downgraded the corporate familyrating (CFR) of Communications Sales & Leasing, Inc. ("CS&L" or"the company") to B2 from B1 following a downgrade of its soletenant Windstream Services, LLC. Moody's has also downgradedCS&L's senior unsecured notes to Caa1 from B3 and senior securednotes and 1st lien credit facilities to B1 from Ba3. The outlookis stable.

The downgrade of CS&L to B2 reflects the deteriorating creditprofile of Windstream, CS&L's sole tenant and the source of nearlyall its revenues. The B2 rating reflects CS&L's stable predictablerevenues and high margins, offset by its high leverage of over 5x,the near 100% revenue concentration with Windstream (B1 stable) asits only tenant and its weak retained free cash flow as a result ofits high dividend payout. With a single tenant, CS&L is fullydependent upon and inextricably linked to the credit strength ofWindstream. The rating also reflects the amount and structure ofliabilities within Windstream relative to the lease obligation. While CS&L meets the IRS standard for a REIT, Moody's does notbelieve that CS&L's credit profile is comparable to the rateduniverse of traditional real-estate entities and has, therefore,applied Moody's Global Communications Infrastructure Methodology tothe assessment of CS&L's creditworthiness.

The master lease with Windstream Holdings Inc., parent ofWindstream Services LLC, represents nearly all of CS&L's revenues,and is funded via inter-company dividends from Windstream ServicesLLC to Windstream Holdings Inc. Moody's views the lease as anunsecured obligation of Windstream Holdings Inc., subordinate toall liabilities of Windstream Services LLC, where all cash flowsoriginate. The subordinate position of the master lease creates aneffective upper limit on the credit rating of CS&L which is cappedby the corporate family rating of Windstream and influenced furtherby the amount and structure of debt senior to the master lease.

Given the nature of CS&L's assets and the tight link that thecompany has to Windstream, the lease payment is likely to betreated by Windstream as a high priority payable. CS&L's rights toterminate the lease under certain conditions and effectively evictWindstream from the leased assets gives CS&L some negotiating powerin a distressed scenario. The combination of strong contract termsand a mutual dependency between CS&L and Windstream provides CS&Lsome additional credit strength versus a strict structuralinterpretation of the lease obligation within the priority ofclaims of Windstream. The strong contract terms and the strategicimportance of the lease to Windstream result in approximately1-notch of uplift for CS&L's corporate family rating versus astrict structural interpretation of its position within thecombined priority of claims.

Moody's expects CS&L to have good liquidity over the next 12-18months, supported by $100 million of cash and an undrawn $500million revolver. Moody's expects CS&L to be approximately freecash flow neutral for the next several years, primarily due to itshigh dividend payout. The relative stability of the company's cashflow generation and good visibility into capital expenditureseliminates the risk of unforeseen liquidity needs.

The ratings for the debt instruments reflect both the probabilityof default of CS&L, to which Moody's assigns a PDR of B2-PD, andindividual loss given default assessments. Moody's rates CS&L'ssenior secured credit facilities and senior secured notes at B1(LGD3). CS&L's senior unsecured notes are rated Caa1 ( LGD5),reflecting their junior position in the capital structure.

The stable outlook reflects Moody's view that CS&L will be able togenerate modest revenue growth and stable cash flows. Moody'scould lower the ratings if leverage were to rise or if there is anynegative change in the credit profile or shifts within the capitalstructure at Windstream. While unlikely given the dependency onWindstream's credit profile, Moody's could raise CS&L's ratings ifleverage were to be sustained below 4x (Moody's adjusted). CS&L'srating could become decoupled from Windstream's ratings if itachieves sufficient revenue diversification such that a stand alonecredit assessment is warranted.

Communications Sales & Leasing, Inc ("CS&L" or "the company") is apublicly traded, real estate investment trust (REIT) that was spunoff from Windstream Holdings, Inc. in April of 2015.

The principal methodology used in these ratings was GlobalCommunications Infrastructure Rating Methodology published in June2011. Other methodologies used include Loss Given Default forSpeculative-Grade Non-Financial Companies in the U.S., Canada andEMEA published in June 2009.

CORPORATE RESOURCE: Files Schedules of Assets and Liabilities-------------------------------------------------------------Corporate Resource and its debtor affiliates filed with the U.S.Bankruptcy Court for the District of Delaware schedules of assetsand liabilities and statements of financial affairs disclosing thefollowing:

Corporate Resource Services, Inc., was a New York-based provider ofemployment and human resource solutions for corporations throughoutthe United States. CRS leases its headquarters and does not ownany real property. About 90% of CRS shares are owned by RobertCassera and the balance are traded OTC.

As of Dec. 31, 2014, CRS was one of the largest employment staffingcompanies in the U.S., providing employment and human resourcessolutions for corporations with annual sales of about one billiondollars. In February 2015, CRS began an orderly wind down ofoperations after discovering that TS Employment, Inc., a privatelyheld company owned by Mr. Cassera, failed to remit tens of millionsof dollars of the Debtors' withholding taxes to taxingauthorities.

CRS estimated $10 million to $50 million in assets and $50 millionto $100 million in debt.

CORPORATE RESOURCE: Wells Fargo Reserves Right to Cash Use Bid--------------------------------------------------------------Wells Fargo Bank, National Association, notifies the U.S.Bankruptcy Court for the District of Delaware that it does notobject to Corporate Resource Services, Inc., et al.'s request touse its cash collateral on an interim basis, Wells Fargo expresslyreserves its rights to object to the further use of Cash Collateralon a further interim or final basis, file an objection to the CashCollateral Motion, raise any arguments in connection with the useof Cash Collateral at any further interim and final hearingconcerning the use of Cash Collateral and to call any witnesses,and present any evidence in support of its positions, at anyhearing on these matters.

As previously reported by The Troubled Company Reporter, U.S.Bankruptcy Judge Mary F. Walrath gave the Debtors interim authorityto use cash collateral until Aug. 31, 2015.

As of Jan. 27, 2015, the Debtors owed Wells Fargo $60,000,000. Asa result of the wind down imposed by Wells Fargo, the principal andinterest obligations on the loans, have been satisfied in full.

Corporate Resource Services, Inc., was a New York-based provider ofemployment and human resource solutions for corporations throughoutthe United States. CRS leases its headquarters and does not ownany real property. About 90% of CRS shares are owned by RobertCassera and the balance are traded OTC.

As of Dec. 31, 2014, CRS was one of the largest employment staffingcompanies in the U.S., providing employment and human resourcessolutions for corporations with annual sales of about one billiondollars. In February 2015, CRS began an orderly wind down ofoperations after discovering that TS Employment, Inc., a privatelyheld company owned by Mr. Cassera, failed to remit tens of millionsof dollars of the Debtors' withholding taxes to taxingauthorities.

CRS estimated $10 million to $50 million in assets and $50 millionto $100 million in debt.

COYNE INT'L: Can Employ Rust Consulting as Claims Agent-------------------------------------------------------Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for theNorthern District of New York authorized Coyne InternationalEnterprises Corp. to employ Rust Consulting/Omni Bankruptcy asclaims and noticing agent.

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcypetition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. Thepetition was signed by Mark Samson as CEO. The Debtor estimatedassets of $10 million to $50 million and liabilities of at least$50 million.

COYNE INT'L: Has Interim Authority to Obtain DIP Loan from NXT--------------------------------------------------------------Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for theNorthern District of New York gave Coyne International EnterprisesCorp. interim authority to obtain postpetition financing from NXTCapital LLC and a consortium of lenders.

NXT Capital is also the Debtor's prepetition lender. As of thePetition Date, the Debtor is liable for payment of the PrepetitionSenior Debt, and the Prepetition Senior Debt will be an allowedsecured claim in an amount not less than $30,000,000 and an allowedclaim in an amount not less than $33,918,000. As of the PetitionDate, the Debtor is liable for payment of the Prepetition JuniorDebt, and the Prepetition Junior Debt will be an allowed claim inan amount not less than $28,660,610.

The Debtors are authorized to obtain Postpetition Debt at an amountnot to exceed the sum of $3,500,000 plus the amount of PrepetitionSenior Debt paid or deemed repaid or refinanced with proceeds ofPostpetition Debt; provided, however that pending the FinalHearing, the maximum principal amount of Postpetition Debtoutstanding will not at any time exceed the Interim Amount.

The Postpetition Debt will bear interest at the same existingdefault rate of interest in respect of the Prepetition Senior Debtunder the Prepetition Credit Agreement. Base Rate Loans under thePostpetition Credit Agreement bear interest at a per annum rate atthe Base Rate plus 7%. LIBOR Loans under the Postpetition CreditAgreement bear interest at LIBOR plus 8%.

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcypetition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. The petition was signed by Mark Samson as CEO.The Debtor estimated assets of $10 million to $50 million andliabilities of at least $50 million.

COYNE INT'L: Has Interim OK to Pay $650K to Critical Vendors------------------------------------------------------------Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for theNorthern District of New York gave Coyne International EnterprisesCorp. interim authority to pay not more than $650,000 to satisfycritical vendor claims.

The Debtor is directed to take all appropriate efforts to causeeach Critical Vendor to enter into a Trade Agreement with theDebtor based on customary trade terms or other favorable tradeterms as mutually agreed to by the Debtor and the Critical Vendor.

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcypetition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. The petition was signed by Mark Samson as CEO.The Debtor estimated assets of $10 million to $50 million andliabilities of at least $50 million.

COYNE INT'L: Has Until Aug. 28, 2015 to File Schedules------------------------------------------------------Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for theNorthern District of New York gave Coyne International EnterprisesCorp. until August 28, 2015, to file their schedules of assets andliabilities and statement of financial affairs.

The Debtor sought and obtained Court authority to file itsSchedules, Statement of Financial Affairs, and all theirsupplements, and matrices, which redact identifying informationrelating to its Customers and Customer Accounts.

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcypetition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. The petition was signed by Mark Samson as CEO. The Debtorestimated assets of $10 million to $50 million and liabilities ofat least $50 million.

COYNE INT'L: Nov. 16, 2015 Fixed as General Claims Bar Date-----------------------------------------------------------Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for theNorthern District of New York issued an order fixing November 16,2015, as the deadline for any entity, other than a governmentalunti, to file proofs of claim or interest against CoyneInternational Enterprises Corp.

The deadline to file proofs of claim or interest for a governmentalunit is fixed at January 27, 2016.

Coyne International Enterprises Corp. filed a Chapter 11 bankruptcypetition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015. Thepetition was signed by Mark Samson as CEO. The Debtor estimatedassets of $10 million to $50 million and liabilities of at least$50 million.

CRAIG WALKER: Files for Ch 11; Wells Fargo Wants Case Dismissed---------------------------------------------------------------Cathy Proctor at Denver Business Journal reports that Craig Walkerand his wife Susan filed for Chapter 11 bankruptcy protection onJuly 24, 2015, estimating their assets at between $100 million and$500 million and liabilities at between $10 million and $50million.

The Walkers' businesses "should not be impacted by the Chapter 11filing. The whole point of a Chapter 11 is to continue theoperation of the entities," Business Journal quoted Christopher(C.J.) Conant, Esq., who serves as the Walkers' bankruptcy counsel,as saying.

Business Journal relates that Wells Fargo Bank, one of the Walkers'largest creditors and owed more than $28 million, is asking theBankruptcy Court to dismiss the case, saying that the bankruptcypetition was an effort to "avoid" repayment of a 2002 loan torefinance a downtown Chicago office building. The Bank said incourt filings, "The Walkers have filed this case in continuation ofan 11-year effort to avoid payment of loan indebtedness owed by Mr.Walker to Wells Fargo . . . . It is clear from this history thatthis bankruptcy is not about seeking an equitable distribution ofassets. It is about thwarting the receiver's efforts and avoidingpaying the judgment entered against the Walkers . . . . The courtshould not allow the Walkers to shop for a new forum -- afterlosing in two prior forums -- in order to shield assets alreadyunder a receiver's control."

The Bank said in court documents that a receiver has takenpossession of most of the Walkers' property in order to sell it torepay the debt.

According to the Bank's court filings, a Cook County Court judge in2012 ruled that Mr. Walker was obligated to repay a loan that that"had been procured by fraud." The case started with theacquisition of an office building in Chicago in 2000 for $11.4million by Mr. Walker and partner Steven Byers. The two men formedin 2002 the 318 West Adams LLC to refinance the property with CIBCInc. Business Journal relates that the Bank got involved becausethe 2002 loan was pooled with other loans and put into a commercialmortgage-backed securities trust that had the Bank as the trustee.

The Bank claims in court filings that CIBC granted the loan after"misrepresentations as to the building's occupancy, the rents beingpaid by the tenants and the price Byers and Mr. Walker had paid forthe building." According to the Bank, the borrowers made ninepayments on the 2002 loan, then stopped paying, sending the loaninto default.

Business Journal recalls that the Bank began foreclosureproceedings on the loan in February 2004 and a year later amendedits complaint to ask that Mr. Walker be made personally liable forthe loan. The Bank said in court filings that the case ultimatelywent to the Illinois Surpeme Court, but the decisions were in theBank's favor, and within three months of the ruling, Mr. Walker hadtransferred assets that a Douglas County District Court laterdetermined to be worth more than $27 million. A Douglas CountyDistrict Court judge found on July 2, 2015, that the transfer wasdone with the "intent to hinder, delay or defraud Wells Fargo," andMr. Walker was held in contempt of court for transferring theassets against the court's orders.

The Bank said in court documents that it has asked an Illinoiscourt to issue a bench warrant for Mr. Walker's arrest, and alsofiled a request that he be held in contempt by the Douglas CountyDistrict Court.

Daniel Hefter, Esq., represents the Bank, Business Journalreports.

Craig Walker owns ranches, a bank, and a manufacturing company inColorado.

At the same time, S&P placed its 'B+' issue-level rating on thecompany's 8.25% senior secured notes due 2019 on CreditWatch withnegative implications. The '4' recovery rating on the notesremains unchanged, indicating S&P's expectation for average(30%-50%; upper half of the range) recovery in the event of apayment default.

"The CreditWatch placement follows CTP's announcement that it willsell its belts business to The Timken Co. for $220 million," saidStandard & Poor's credit analyst James Siahaan. "We do notcurrently expect the company to use the proceeds from this sale toreduce its debt." CTP's senior secured notes are not callable untilthe end of 2016, and, even then, we view the likelihood that thecompany would pay a call premium to tender the bonds as remote. S&P expects that CTP's remaining business lines will generateroughly $49 million in pro forma EBITDA. Pro forma for thetransaction (which S&P expects will close within the next couple ofmonths), it expects that CTP's adjusted debt-to-EBITDA metric willweaken to over 6.5x from 5.1x as of March 31, 2015. This would beinconsistent with S&P's existing "aggressive" assessment of thecompany's financial risk profile, thus S&P will likely revise itsfinancial risk assessment on CTP to "highly leveraged" upon thecompletion of this transaction.

S&P expects to resolve the CreditWatch placement once thetransaction is finalized, or whenever the company releases moredetails to the public. S&P could lower its corporate credit ratingon CTP by one notch or more depending on the impact of thetransformation on the company.

Specifically, S&P could lower its corporate credit rating on thecompany by two notches to 'B-' if it expects that CTP's debtleverage will persistently remain over 6.0x or if its liquiditybecomes pressured during the next year. S&P could also lower itscorporate credit rating on the company by one notch to 'B' if CTPuses some of the proceeds from the sale to reduce its debt but isunable to prevent its adjusted debt-to-EBITDA ratio from exceeding5.0x on a sustained basis.

DORAL FINANCIAL: Files Bankruptcy Rule 2015.3 Report----------------------------------------------------Doral Financial Corp. filed a report with the U.S. Bankruptcy Courtfor the Southern District of New York, disclosing that it holds100% interest in these companies:

On Feb. 27, 2015, regulators placed Doral Bank into receivershipand named the Federal Deposit Insurance Corp. as receiver. DoralBank served customers through 26 branches located in New York,Florida, and Puerto Rico.

"The downgrade reflects our assessment of Dowling College's missedinterest payments on its series 2002 and 1996 bonds in April andMay 2015, respectively," said Standard & Poor's credit analystEmily Avila. Approximately $295,000 of interest was due in April2015 and approximately $104,000 of interest was due in May 2015.

Management had the funds available to make the interest paymentsbut elected not to pursuant to the terms of a forbearance agreementthat it entered into on June 15, 2015. According to S&P'stimeliness of payments criteria, it will apply the 'D' rating if itexpects payment will not be made within the earlier of the statedgrace period or 30 calendar days after the due date. According tomanagement, Downing College does not expect to make debt servicepayments until the forbearance agreement that it entered with amajority of its long-term debtholders terminates on June 30, 2016,unless terminated earlier in accordance with the covenants in theagreement.

Moody's also withdrew the public ratings of both issuer'spreviously existing bank credit arrangements that were scheduled toexpire in May 2018. These consisted of two unsecured revolvingcredit facilities executed by DP&L (up to $300 million) and DPL (upto $100 million) as well as DPL's unsecured bank loan (outstandingamount March 2015: $130 million). On July 31, 2015, the issuersreplaced these liquidity arrangements with the following; DPLexecuted a five year secured revolving credit facility for up to$300 million as well as an amortizing $125 million bank loan due,both due in 2020; DP&L executed a new 5-year unsecured revolvingcredit facility for up to $200 million scheduled to expire in2020.

RATINGS RATIONALE

The affirmations of DPL's and DP&L's ratings are largely driven byMoody's acknowledgement of the group's prudent risk managementinitiatives to enhance the group's liquidity profile. The previousexisting bank arrangements were scheduled to expire in May 2018;however, DPL's previous revolving credit facility and bank loanwere subject to an earlier expiration in 2016 if the holdingcompany failed to refinance its 6.5% notes due in 2016. Therefore,the execution of the new bank arrangements well ahead of the 2016notes maturity date is a significant credit positive. Moody's alsounderstands that the increase in the size of DPL's revolving creditfacility to $300 million (the facilities were increased to $205Mwith an ability to go up to $300M subject to certain conditions)aims to enhance the group's ability to support the unregulatedpower generation operations. At the same time, the reduction inDP&L's revolving credit facility is driven by management'santicipation of the utility's smaller liquidity requirement uponthe implementation of the power generation assets separation onJanuary 1, 2017.

Moody's notes that DPL's new revolving credit facility and termloan are now secured with collateral, including capital stock inDP&L (including capital stock in DP&L limited to the amountpermitted to be pledged in DPL Inc's 2011 & 2014 Bond Indentures)and a guarantee provided by DPL Energy, LLC, the owner of thegroup's current 556MW merchant peaking generation capacity. Whilethis collateral package enhances the recovery expectations of thesetwo pieces of DPL's indebtedness compared to the rest of itsoutstanding unsecured indebtedness, Moody's does not believe thatthe additional value provided by this collateral is enough totrigger a downgrade of DPL's Ba3 outstanding notes. This view alsoconsiders that the legal documentation explicitly excludes DP&L'scurrent generation assets from becoming part of the collateralpackage.

The affirmation of DP&L's Baa3 Issuer rating also reflects theissuer's efforts to reduce the significant financial leverage thatwill remain at the utility upon the separation of its generationassets from its transmission and distribution operations on January1, 2017. To this end, DP&L has recently redeemed $114.1 million inPollution Control Bonds (PCBs) due in 2028 and 2034, namely the2005 Boone County PCBs of $35.3 million, the 2005 Ohio Water PCBsof $41.3 million, and $37.8 million of the $137.8 million 2005 OhioAir PCBs. The utility further used the proceeds from the August 3,2015 issuance of $200 million of 2015 Series A and Series B PCBs torefinance the $100 million balance of the $137.8 million 2005 OhioAir PCBs and the $100 million 2008 Series A & Series B Ohio AirQuality PCBs. That said, the rating action is largely predicatedon the assumption that the Ohio regulatory environment will remaincredit supportive and that PUCO's temporary relief regarding theutility's 50% debt capital structure requirement will remain inplace. This is an important consideration because according toMoody's calculations and despite the utility's deleveraging effortsDP&L will not be able to return to a 50% capital structure beforethe 2019/2020 timeframe. In September 2014, the PUCO temporarilyallowed the utility to record long-term debt that will account for75% of its $1 billion rate base upon the separation of thegeneration assets on Jan. 1, 2017.

The ratings of DP&L and DPL remain constrained by the group'ssignificant financial leverage including the material amount ofholding company indebtedness. DP&L is expected to remain asignificant source of cash flows to service this holding-companyindebtedness. Moody's expects DPL's holding company debt willapproximate $1.25 billion at year-end 2015 with further reductionupon the repayment of the $130 million outstanding under its 6.5%notes due in 2016; however, Moody's also anticipates that theholding-company indebtedness will continue to constitute 60% of thetotal consolidated debt over the next several years despite bothissuer's efforts to reduce their respective outstandingindebtedness.

DPL's ability to reduce the group's indebtedness will also dependon the financial performance of the unregulated power generationassets and the power markets. In this regard, Moody's considerscredit positive for DPL the recent developments in the PJM capacitymarket including the regulatory approval of its CapacityPerformance Plan. This is expected to boost generators' revenuesas they factor potential penalties into their bid auction albeitthis also exposes their financial performance to operational risks,a credit negative.

The stable outlook of DP&L assumes that the utility will continueto benefit from a supportive regulatory environment includingregulatory decisions beyond the tenor of its current ESP-II. Itfurther assumes that excess cash flows will be further used toreduce its outstanding indebtedness to achieve a capital structurecommensurate with an investment grade regulated utility. Thestable outlook also assumes that the utility will be able to recordcash flow credit metrics that are well positioned within the lowend of the Baa-rating category even after the separation of itsgeneration assets; specifically, interest coverage and retainedcash flow (RCF) to debt credit metrics of 4x and mid-teens,respectively. The stable outlook assumes that that the companywill also prudently manage its debt maturities, including its $445million First Mortgage Bonds due in 2016.

The stable outlook of DPL assumes that the holding company willcontinue decreasing its indebtedness, including its 6.5% Notes duein 2016. It further assumes that its unregulated operations willbe able to generate cash flows which along with any excess cashflows received from DP&L will be used to further reduce DPL'soutstanding debt. The stable outlook assumes that that the companywill also prudently manage its debt maturities.

An upgrade of DPL's rating over the short-term is unlikely givenDP&L's anticipated capital structure upon separation and thematerial amount of holding-company indebtedness. That said, anupgrade could be triggered if the holding company is able tomaterially reduce its holding company debt either through an equityinfusion from AES and/or if DPL chooses to divest its generationassets and use the proceeds to reduce outstanding indebtedness andimprove its capital structure while also reducing the group'sexposure to unregulated operations.

Given the structural subordination considered in DPL's rating, amaterial reduction in the holding company indebtedness along withthe utility's ability to achieve a 50% debt to rate base capitalstructure as required by the PUCO could also trigger positivemomentum on DP&L's ratings.

DPL's ratings could come under pressure should the PUCO change itsdecision under the September 17, 2014 Order such that it imposessignificant dividend restriction on DP&L or if the requirement toimprove DP&L's debt to total capitalization ratio results in asignificant curtailment of the ability to upstream cash from DP&Lor if DPL increases its holding company indebtedness if required toinfuse equity into the utility. A downgrade of DP&L's rating couldalso trigger a downgrade of DPL's rating if the holding companydebt remains material and without a reduction in the group'sexpected increased exposure to unregulated operations.

The principal methodology used in these ratings was RegulatedElectric and Gas Utilities published in December 2013.

DPL Inc. is a regional energy company headquartered in Dayton, Ohioand is the parent company of The Dayton Power and Light Company, aregulated electric utility.

DP&L provides electric service to more than 515,000 retailcustomers in West Central Ohio. Its primary source of internalgenerating capacity is from ownership in seven coal-fired powerplants with a combined generating capacity of 2,465 megawatts (MW). Additionally, DP&L owns in aggregate 432 MWs of incrementalsolar/natural gas/diesel-fired generating capacity. Moody'sunderstands that the issuers is currently involved in theprocedures required to release the generation assets from thecollateral package provided to the utility's outstanding securedindebtedness.

At the same time, S&P assigned its 'B' issue-level and '3' recoveryratings to Duff & Phelps' proposed first-lien secured creditfacilities, which consist of a $75 million revolving creditfacility due 2019 and a $675 million term loan due 2020. The '3'recovery rating indicates S&P's expectation for meaningful recovery(50%-70%; lower half of the range) of principal in the event of apayment default.

S&P also assigned its 'CCC+' issue-level and '6' recovery rating tothe company's proposed $110 million second-lien term loan due 2021. The '6' recovery rating indicates S&P's expectation for negligiblerecovery (0%-10%) of principal in the event of a payment default.

S&P's 'B' corporate credit rating on Duff & Phelps is based onS&P's assessment of the company's business risk profile as "fair"and its financial risk profile as "highly leveraged." S&P basedits business risk assessment on Duff & Phelps' position as amidsize consulting firm that primarily operates in a highlycompetitive national marketplace. It has a well-recognized brandname and a good reputation in the market, with a market-leadingshare in valuation advisory services. The company has a diverseoffering of niche services that contributes to relatively stableoperating performance over the business cycle. Pro forma for theproposed financing and acquisitions completed in early 2015, thecompany is highly leveraged with an adjusted total debt to EBITDAof 6.7x as of June 30, 2015. As a private equity owned firm, Duff& Phelps has an "aggressive" financial policy and a history ofdebt-financial acquisitions and special dividends.

"The stable outlook reflects our expectation that Duff & Phelpswill experience healthy growth over the next two years, whichshould enable the company to lower its adjusted pro forma debtleverage to 6.2x by year-end 2015," said Standard & Poor's creditanalyst Elton Cerda.

The company's pro forma adjusted debt leverage of 6.7x exceedsS&P's long-term debt leverage threshold for the 'B' corporatecredit rating. S&P could lower the rating if the company is unableto quickly deleverage. More specifically, S&P could lower therating if the company's operating performance deteriorates andcauses adjusted debt leverage to remain above 6.5x into 2016(without the prospect of a quick reversal).

S&P views the probability of a one-notch upgrade to 'B+' as low.The company has an "aggressive" financial policy on shareholderreturns and acquisitions. The proposed recapitalization will bethe company's second debt-financed special dividends to its privateequity owners since its leveraged buyout in 2013. An upgrade wouldrequire that the company implements a more conservative financialpolicy and decreases its adjusted debt leverage to below 5x througha combination of EBITDA growth and debt repayment.

The company earlier received interim approval from the bankruptcyjudge to use the cash collateral until Oct. 27.

El Paso will use the cash collateral to fund its operating expensesand employee payroll expenses in accordance with the court-approvedbudget for the period May 19 to Oct. 27, 2015.

University Medical Center, Cardinal Health Inc., AmerisourceBergenDrug Corp. and ASD Specialty Healthcare will receive monthlypayments as "adequate protection" of their security interests in ElPaso's assets. They will also get administrative claims, courtfilings show.

In a court filing, UMC said it doesn't approve the use of its cashcollateral to fund a challenge to its lien. The hospital alsocomplained that it wasn't adequately protected given El Paso's"declining cash position."

In response, El Paso argued that under U.S. bankruptcy law, thecompany may use cash collateral to avoid a lien on its assets andthat UMC is already protected with the provision of replacementliens.

El Paso also received objections from Cardinal Health andAmerisourceBergen. The lienholders also complained that they werenot adequately protected.

About El Paso Children's Hospital

El Paso Children's Hospital Corporation operates the El PasoChildren's Hospital, the only not-for-profit children's hospital inthe El Paso region. The hospital opened its doors in February2012, features 122 private pediatric rooms, and is located at thecampus of El Paso County Hospital District dba University MedicalCenter of El Paso.

The Company sought Chapter 11 protection (Bankr. W.D. Tex. Case No.15-30784) on May 19, 2015. The case is assigned to Judge H.Christopher Mott, following disputes with UMC. The Debtor tappedJackson Walker LLP as counsel.

ERG Holdings' income statement for the year ending Dec. 31, 2014,showed a net loss of $1.14 million on total revenue of $625,202.

As of Dec. 31, 2014, ERG Holdings had total assets of $7.24million; total current liabilities of $1.73 million; totalnon-current liabilities of $5.48 million; and members' equity of$29,768.

ERG Holdings had $99,460 cash at the beginning of the year, and$157,136 cash at the end of the year, court filings show.

ERG Intermediate filed the report pursuant to Bankruptcy Rule2015.3. The report dated June 2, 2015, is available for free athttp://is.gd/s1prpK

About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer thatwas formed in 1996. Since 2010, ERG Resources and ERG OperatingCo. have been primarily engaged in the exploration and productionof crude oil and natural gas in the Cat Canyon Field in SantaBarbara County, California. ERG Resources owns 19,027 gross leaseacreage in the Cat Canyon Field. ERG Resources also owns andoperates oil & gas leases representing 683 gross acres of leaseholdlocated in Liberty County, Texas. The Company's corporateheadquarters is located in Houston, Texas. Scott Y. Wood, throughtwo of his affiliates, owns 100% of the membership units in ERGIntermediate Holdings LLC, the parent company.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;AP Services, LLC, to provide a CRO; and Epiq Bankruptcy Solutions,LLC.

ERG Intermediate estimated $100 million to $500 million in assetsand debt.

The U.S. Trustee overseeing the Chapter 11 case of ERG IntermediateHoldings LLC appointed five creditors of the company to serve onthe official committee of unsecured creditors.

ESCALERA RESOURCES: Enters Into Forbearance Agreement-----------------------------------------------------Escalera Resources Co. on Aug. 3 diclosed that, effective July 31,2015, the borrowing base under its credit facility has beendecreased from $50 million to $44 million in connection with theCompany's regularly scheduled semi-annual redetermination by itslenders. This decrease has resulted in a borrowing base deficiencyof approximately $3.5 million.

In connection with the borrowing base redetermination, the Companyentered into a Forbearance Agreement and First Amendment to CreditAgreement, which provides that the Company's lenders will forbearfrom exercising certain rights under the credit facility relatingto Designated Defaults, as defined in the Agreement, subject to theCompany's compliance with the terms of the Agreement. TheAgreement terminates at the earlier of September 1, 2015 or anyevent of termination under the Agreement.

In exchange for entering the Agreement, the Company has agreed to,among other things, sell certain assets with all net proceeds goingto reduce amounts outstanding under the credit facility, executemortgages further encumbering certain assets already pledged underthe Company's credit facility and the partial unwind of certain2015 commodity hedges. The Company's compliance with the terms ofthe Agreement will defer any additional payments to cure theborrowing base deficiency through September 1, 2015.

Sale of Pinedale Assets

On July 16, 2015, the Company entered into an agreement to sell itsnon-operated Pinedale Anticline properties for $12 million cash,subject to closing adjustments. The closing of this sale occurredon July 31, 2015 and net proceeds of $10.5 million were used forthe reduction of amounts outstanding under the Company's creditfacility. The sale of these assets did not materially reduce theaforementioned borrowing base deficiency.

FAMILY CHRISTIAN: Most Creditors Favor Sale, Attorney Says----------------------------------------------------------Family Christian Stores creditors are voting overwhelmingly infavor of a bankruptcy sale that would keep the Company's storesoperating, Jim Harger at Mlive.com reports, citing A. ToddAlmassian, Esq., the attorney for the Company.

Mlive.com relates that most of the creditors and vendors, who standto lose millions by the sale, were expected to vote in favorinstead of liquidating the chain. Family Christian Acquisition hasoffered to pay between $52.4 million and $55.7 million for theCompany's assets and inventory without assuming its debt, thereport adds.

Citing Mr. Almassian, Mlive.com states that as of Aug. 6, 2015,more than 97.6% consignment creditors who are owed more than $16million had voted for the plan, representing 99.9% of the amountowed. Mr. Almassian said that unsecured creditors who are owed$12.8 million also were voting overwhelming in favor of the plan,and that 93.75% voted to accept the plan, Mlive.com reports.

The report says that if creditors vote in favor of the plan, theCompany will ask U.S. Bankruptcy Judge John Gregg to approve it ata hearing set for Aug. 11.

Mlive.com recalls that Judge Gregg rejected an auction in whichFamily Christian Acquisition was declared the winning bidder,saying that the auction was tainted by behind-the-scenes contactbetween the buyer's chief, Richard Jackson, and the Company's CEO,Chuck Benochea, therefore denying fair access by competing bidderswho wanted to close the stores and liquidate its assets.

About Family Christian

Family Christian Holding, LLC, is the sole owner and member ofFamily Christian, LLC, which operates and runs Family Christianstores, one of the largest retail sellers of Christian books,music, DVDs, church supplies, and other faith based merchandise.

Family Christian, LLC, Family Christian Holding, LLC, andFCS Giftco, LLC, filed Chapter 11 bankruptcy petitions (Bankr.W.D. Mich. Lead Case No. 15-00643) on Feb. 11, 2015. The petitionwas signed by Chuck Bengochea as president and CEO. The Debtorsestimated assets and liabilities of $50 million to $100 million.

Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,reported that the company seeks to sell what remains of itsbusiness after almost two decades of declining revenue. FilmedEntertainment filed for Chapter 11, citing the advent of digitalmedia and dramatic changes in technology that are threatening torender CDs and DVDs obsolete.

FJK PROPERTIES: Files Bankruptcy Rule 2015.3 Report---------------------------------------------------FJK Properties Inc. filed a report with the U.S. Bankruptcy Courtfor the Southern District of Florida, disclosing that it does nothold a substantial or controlling interest in any company.

FJK Properties filed the report pursuant to Bankruptcy Rule 2015.3. The report dated July 16, 2015, is available for free athttp://is.gd/jsZmHv

FRAC SPECIALISTS: Agrees to Additional Adequate Protection for CNB------------------------------------------------------------------Frac Specialists, LLC, et al., ask the United States BankruptcyCourt for the Northern District of Texas, Fort Worth Division, toapprove an agreement providing Community National Bank withadditional adequate protection for the Debtors' continued use ofcash collateral.

The agreement provides that, as adequate protection for theDebtors' use of the Collateral, the Debtors will pay monthlyadequate protection payments of $1,564 per month to CNB, which isequal to 1/12 of 5% of the outstanding balance of CNB's claim,beginning on August 25 and will continue to make payments on the25th day of each consecutive month until the earliest to occur of(1) March 25, 2016, (2) effectivity of the Debtors' Chapter 11Plan, and (3) the conversion or dismissal of the Debtors'bankruptcy cases. The Debtors tell the Court that the agreement isfair and in the best interest of their estate.

The U.S. Trustee appointed five creditors to serve on an officialcommittee of unsecured creditors.

FRAC SPECIALISTS: PCLC Wants Stay Lifted to Repossess Equipment---------------------------------------------------------------People's Capital and Leasing Corp. asks the United StatesBankruptcy Court for the Northern District of Texas, Fort WorthDivision, to lift the automatic stay imposed in the Chapter 11cases of Frac Specialists, LLC, et al., to allow it to repossess avariety of equipment under a Master Equipment Lease Agreement datedJune 5, 2014.

PCLC asserts that the Debtors do not have equity in the Equipment. The cost of the Equipment was $6,287,891. PCLC further assets thatthe Debtors continue to be in possession of the Equipment and havenot made the monthly rental payment due of $173,570 in May 2015. Furthermore, PCLC believes that the Debtors may continue to use andoperate the Equipment, and accordingly, the Equipment is decliningin value through use, as well as wear and tear.

The U.S. Trustee appointed five creditors to serve on an officialcommittee of unsecured creditors.

GENERAL NUTRITION: Moody's Raises CFR to Ba3, Outlook Positive--------------------------------------------------------------Moody's Investors Service upgraded all ratings of General NutritionCenters, Inc. ("GNC"), including the Corporate Family Rating to Ba3from B1, the Probability of Default Rating to Ba3-PD from B1-PD,and the Senior Secured Credit Facility to Ba2 from B1. The ratingsoutlook is positive. This concludes the review for upgrade thatcommenced on June 16, 2015.

"The upgrade reflects the reduction in adjusted debt due to changesin Moody's approach for capitalizing operating leases," saidMoody's Analyst, Mike Zuccaro. The updated approach for standardadjustments for operating leases is explained in the cross-sectorrating methodology Financial Statement Adjustments in the Analysisof Non-Financial Corporations, published on June 15, 2015. As adirect result of this change, GNC's leverage has improved to around3.5 times from around 4.5 times under the prior methodology. Zuccaro added, "The positive outlook considers our expectation forcontinued modest improvement in operating performance and creditmetrics as the company continues to focus on growing its domesticbusiness, improve marketing and managing inventory levels."

The upgrade of the term loan to Ba2 reflects the significantincrease in junior level support provided by the proposed issuanceof $250 million 1.5% Unsecured Convertible Notes due 2020.

GNC's Ba3 Corporate Family Rating is supported by the company'swell-known brand name in its target markets along with Moody'sfavorable view of the vitamin, mineral, and nutritional supplement("VMS") category which accounts for about one-third of GNC'sconsolidated revenues. Despite the recent sales decline, Moody'santicipates that operating performance will rebound in 2015 as GNCfocuses on realigning its pricing and promotional cadence. Inaddition, Moody's expects the company to prioritize productinnovation in order to grow brand equity over time. The ratingalso reflects GNC's stable credit metrics, with moderatelease-adjusted debt leverage of around 3.7x as of June 30, 2015 andsolid interest coverage (EBITA to interest) of 4.3x pro forma forthe proposed $250 million 1.5% Convertible Note Offering announcedon Aug. 4, 2015.

Key credit concerns include GNC's sizable concentration in sportsnutrition which is a much more limited product segment with arelatively smaller target market than the VMS product category.Also considered is the potential risk arising from adversepublicity and product liability claims with regard to certainproducts sold by GNC, particularly diet products and herbs, twofaddish product categories that are more exposed to such productliability risks and earnings volatility.

GNC's ratings could be upgraded over time if the companydemonstrates stable growth while maintaining strong operatingmargins in the mid-teens. An upgrade would require that GNCcontinue to adhere to a financial policy that would support creditmetrics remaining at current levels, including lease adjusteddebt/EBITDA below 3.5x.

Ratings could be downgraded if the company were to see a materialdecline in sales trends or if operating margins were to erode,either through a weakening competitive profile or materialproduct-related risks. Ratings could also be lowered if thecompany's financial policies were to become aggressive, such asmaintaining higher leverage due to increased shareholder friendlyactivities. Quantitatively, a ratings downgrade could occur if itappears that leverage will rise above 4.5x or interest coveragefall near 2.5x on a sustained basis.

General Nutrition Centers, Inc., ("GNC") headquartered inPittsburgh, PA, manufactures and retails vitamins, minerals,nutritional supplements domestically and internationally. About75% of its revenue is generated by over 3,500 company owned storesand website. It also has nearly 3,200 franchise locations in theU.S. and over 50 countries that generate about 15% of its revenue,and 2,300 stores within-a-stores with Rite Aid. Total revenues areabout $2.6 billion.

The principal methodology used in these ratings was Global RetailIndustry published in June 2011. Other methodologies used includeLoss Given Default for Speculative-Grade Non-Financial Companies inthe U.S., Canada and EMEA published in June 2009.

GILBERT HOSPITAL: Lays Off Florence Hospital Administrative Staff-----------------------------------------------------------------Mark Cowling at Florence Reminder & Blade reports that GilbertHospital has let go almost all of the Florence Hospitaladministrative staff as part of a tentative plan for the twohospitals to exit Chapter 11 bankruptcy under joint ownership andoperation.

According to Florence Reminder, the two hospitals' websites listthe same CEO, chief financial officer, chief nursing officer andchief medical officer. The report says that the changes startedlate in July 2015. Bryan J. Hargis, CEO of Gilbert since two weeksbefore it filed for bankruptcy protection, is now interim CEO ofFlorence as well, and that "will become permanent once we get theChapter 11 plan confirmed," the report states, citing Daniel E.Garrison, Esq., lead bankruptcy attorney for Gilbert.

Florence Reminder relates that Mr. Garrison couldn't say forcertain how many administrators had been replaced, but he said thatthe process was not yet complete.

About Gilbert Hospital

Gilbert Hospital has 21 private ER beds, 16 inpatient beds andthree intensive care unit rooms. Arizona Republic said GilbertHospital had $20 million in cash in 2011. However, hospitalinvestors have since sued Dr. Johns, saying that "financialmismanagement" and the transferring of funds from Gilbert Hospitalto PRMC has led to massive losses.

GT ADVANCED: Files Bankruptcy Rule 2015.3 Report------------------------------------------------GT Advanced Technologies Inc. filed with the U.S. Bankruptcy Courtfor the District of New Hampshire a periodic report underBankruptcy Rule 2015.3 for the period ending March 28, 2015.

GT Advanced and its affiliated debtors reported that they hold asubstantial or controlling interest in these companies:

Headquartered in Merrimack, New Hampshire, GT Advanced TechnologiesInc. -- http://www.gtat.com/-- produces materials and equipment for the electronics industry. On Nov. 4, 2013, GTAT announced amultiyear supply deal with Apple Inc. to produce sapphire glassmaterial for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment ofapproximately $578 million paid in four installments and, startingin 2015, GTAT would reimburse Apple for the prepayment over afive-year period.

GT is a publicly held corporation whose stock was traded on NASDAQunder the ticker symbol "GTAT." GTAT was de-listed from the NASDAQstock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidatedfinancial statements reflected assets totaling $1.5 billion andliabilities totaling $1.3 billion. As of Sept. 29, 2014, GTAT had$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliatesfiled voluntary petitions for relief under Chapter 11 of the UnitedStates Bankruptcy Code (Bankr. D.N.H. Lead Case No. 14-11916). GTsays that it has sought bankruptcy protection due to a severeliquidity crisis brought about by its issues with Apple.

The U.S. Trustee has named seven members to the Official Committeeof Unsecured Creditors. The Committee' professionals are KelleyDrye as its bankruptcy counsel; Devine, Millimet & Branch,Professional Association as local counsel; EisnerAmper LLP asfinancial advisors; and Houlihan Lokey Capital, Inc. as investmentbanker.

GTAT has reached a settlement with Apple. The settlement givesApple an approved claim for $439 million secured by more than 2,000sapphire furnaces that GT Advanced owns and has four years to sell,with proceeds going to Apple. In addition, Apple getsroyalty-free, non-exclusive licenses for GTAT's technology.

"The Creditwatch placement follows Iconix Brands' announcementyesterday that Neil Cole is stepping down from his position as CEO,chairman, and president, and as a member of the board ofdirectors," said Standard & Poor's credit analyst Diane Shand.

Iconix board member Peter Cuneo has been appointed chairman of theboard and interim CEO. Neil Cole's departure follows theresignation of its chief operating officer and chief financialofficer earlier this year. Although the company has indicated thatall the departures are unrelated, they nevertheless heighten therisk that operating performance will deteriorate because licensees'renewals may decline as a result of senior management turnover, andchanges in management that could slow growth over the next one totwo years as new management develops and implements its strategy.

S&P expects to resolve the CreditWatch listing after a closerreview and assessment of the implications of the leadership changeand its impact on the company. S&P could lower the rating on thecompany if it revises its management and governance assessment to"weak" from "fair" or if operating performance and credit measuresdeteriorate because of a decline in licensing renewals. S&P couldaffirm the rating if it believes the recent changes in managementwill not materially affect operating performance and there are nomeaningful changes in the company's financial policy.

IMPERIAL METALS: S&P Raises CCR to 'CCC+', Outlook Stable---------------------------------------------------------Standard & Poor's Ratings Services said it raised its long-termcorporate credit and issue-level ratings on Vancouver-basedImperial Metals Corp. to 'CCC+' from 'CCC' and removed the ratingsfrom CreditWatch, where they had been placed with developingimplications on May 20, 2015. The outlook is stable.

The '4' recovery rating on the senior unsecured notes, whichindicates S&P's expectation for average recovery (lower half of the30% to 50% range) in its simulated default scenario, is unchanged.

"The upgrade primarily reflects our view that Imperial Metals'default risk has declined following the receipt of a temporarycovenant waiver under its credit facility," said Standard & Poor'scredit analyst Jarrett Bilous. In addition, S&P believes that theforthcoming capital injection will reduce liquidity pressure andsupport the continued ramp-up of Red Chris and restart of MountPolley. Imperial Metals recently obtained a long-term tailingsdischarge permit for Red Chris, which S&P believes is critical forsustainable production at the mine, and a permit amendment thatwill enable the modified restart of mining at Mount Polley.

The company's credit facility lenders extended the required date ofRed Chris mine completion under the agreement from June 1 to Dec.1, 2015. S&P assumes the mine will achieve design levels ofthroughput and production prior to the deadline, as S&P understandsthat previous issues (i.e., water supply) have largely beenresolved. In addition, S&P expects Imperial Metals to raise grossproceeds of C$80 million from the issuance of rights, commonshares, and a convertible debenture this month. The financing isfully backstopped by the company's two largest shareholders.

Notwithstanding the above, S&P believes the company remainsvulnerable to and dependent on favorable business, financial, andeconomic conditions to support its financial commitments beyond thenext 12 months. Specifically, Imperial Metals' credit facilitylenders could potentially file a notice of default if Red Chris isnot completed by Dec. 1, 2015 and a further extension is notprovided. In addition, the credit facility matures in October2016, which could lead to increased refinancing risk –-particularly in the event of weaker-than-expected operating resultsfrom Red Chris. In S&P's view, these risks are consistent with itscriteria for issuers rated 'CCC+'.

The stable outlook reflects S&P's expectation that the company willhave sufficient liquidity in the next 12 months to fund thecontinued ramp-up of the Red Chris mine and restart of MountPolley, mainly from proceeds from its planned financing. S&P alsoexpects Imperial Metals will meet the completion test under itscredit facility, and refinance the facility in advance of itsmaturity.

S&P could lower the rating in the event that the company does notmeet the Red Chris completion test under its credit facility. Inaddition, materially weaker liquidity resulting from operatingdisruptions or sharply weaker commodity prices, or heightened riskthat the credit facility will not be refinanced prior to itsmaturity, could also pressure the rating.

Although unlikely in the next 12 months, an upgrade could resultfrom a material improvement in liquidity, which S&P assumes wouldresult primarily from higher-than-expected output and cash flowgeneration from Red Chris, and refinancing of its credit facility.

JTS LLC: Files Schedules of Assets and Liabilities--------------------------------------------------JTS LLC with the U.S. Bankruptcy Court for the District of Alaskaits schedules of assets and liabilities, disclosing:

JTS, LLC, doing business as Johnson's Tire Service, sought Chapter11 protection (Bankr. D. Alaska Case No. 15-00167) in Anchorage,Alaska, on June 15, 2015, without stating a reason. JTS, in thebusiness of retail tire sales and automobile maintenance andrepair, estimated $10 million to $50 million in assets and debt.

The formal schedules of assets and liabilities and the statement offinancial affairs are due June 29, 2015. The Debtor tapped DavidH. Bundy, Esq., at David H. Bundy, PC, in Anchorage, as counsel.

The U.S. Trustee for Region appointed creditors to serve on theOfficial Committee of Unsecured Creditors for the Debtor'sbankruptcy case.

JW RESOURCES: Gets Final Approval to Use $2-Mil. DIP Loan---------------------------------------------------------The U.S. Bankruptcy Court for the Eastern District of Kentuckyauthorized, on a final basis, JW Resources, Inc., et al., to obtainpostpetition secured financing from Gordon Brothers FinanceCompany, as administrative agent, up to the amount of theprepetition revolver of $2 million.

As reported in the Troubled Company Reporter on July 15, 2015, foreach loan disbursed pursuant to the DIP Facility, the Debtorspromise to pay at a rate per annum equal to the LIBOR Rate plus6.75% with an interest rate floor of 1%.

The Debtors said they will use cash collateral securing theirprepetition indebtedness. As of the Petition Date, the Debtors areindebted to the following creditors:

A full-text copy of the final DIP order together with the cashcollateral budget is available for free at http://is.gd/RoCgLB

About JW Resources

JW Resources Inc. and its subsidiaries are U.S. producers of thermal coal with mineral reserves, mining operations and coalproperties located in the Central Appalachian ("CAPP") regions of Kentucky. JW acquired the thermal coal mining operations of Xinergyin eastern Kentucky for $47.2 million in February 2013. JW'sbusiness operations comprise what is known as the "Straight Creek"operations located in Bell, Leslie and Harlan Counties, Kentucky,and the "Red Bird" operations located in Bell, Leslie, Knox, andClay Counties, Kentucky. JW Resources is the parent and soleshareholder of SCRB Properties, Inc., Straight Creek Coal Mining,Inc. and SCRB Processing, Inc.

Kronos was created to acquire KIK Custom Products Inc. for aboutUS$1.6 billion. The ratings reflect S&P's view of the proposedleveraged buyout. Upon the transaction's closing, S&P willfinalize the ratings on Kronos and withdraw S&P's ratings on KIK.

The ratings on Kronos reflect Standard & Poor's view of thecompany's "weak" business risk profile and "highly leveraged"financial risk profile, which result in an anchor score of 'b/b-'.S&P selects the lower anchor based on weaker cash flow and leverageratios for the range of anchor outcomes. For analytical purposes,S&P bases its rating conclusions on the operations and financialsof the consolidated entity, which includes the core operatingsubsidiary, KIK.

The stable outlook on Kronos reflects Standard & Poor's expectationthat the leveraged buyout will increase fully adjusted debtleverage to about 8x in the next two years, and the company willgenerate modest free operating cash flow that it could use for debtreduction.

Considering its heavy debt load, S&P could lower the ratings onKronos if the company generates sustained negative free cash flows(excluding growth capital expenditures) such that it is unable tocover its fixed charges.

S&P is unlikely to raise the ratings over the next two years, givenits expectation of high debt leverage and the company's ownershipby a financial sponsor. S&P could, however, raise its ratings ifKronos reduces fully adjusted debt leverage to below 6x andimproves EBITDA interest coverage to 2.5x-3x.

LAURA GENS: U.S. Trustee's Bid to Dismiss Ch. 11 Case Granted-------------------------------------------------------------Judge Alan Jaroslovsky of the United States Bankruptcy Court forthe Northern District of California granted the motion filed by theU.S. Trustee to dismiss Laura Gens' third Chapter 11 case.

Laura Gens filed her third Chapter 11 on January 8, 2013, threemonths and four days after the dismissal of her second case. OnApril 29, 2013, the U.S. Trustee moved to dismiss the third case,citing as cause Gens' two prior cases and her failure to providereasonable information or file monthly operating reports.

Judge Jaroslovsky explained that pursuant to Section 1112(b)(4)(F)of the Bankruptcy Code, cause to dismiss includes the unexcusedfailure to satisfy timely any reporting requirement established byany rule applicable to the case. The judge found that Gens hasfailed to demonstrate any valid excuse for her delinquent operatingreports.

Judge Jaroslovsky also found that Gens has failed to demonstratethat there is a reasonable likelihood that she can confirm a planwithin a reasonable time and that it is highly dubious that shecould ever meet the good faith requirement for confirmationcontained in Section 1129(a)(3).

LIGHTSQUARED INC: District Court Throws Out Ex-CEO's Plan Appeal----------------------------------------------------------------Judge Katherine B. Forrest of the United States District Court forthe Southern District of New York affirmed a bankruptcy court'sorder confirming Lightsquared Inc., et al.'s Modified SecondAmended Joint Plan.

The Plan was proposed by a group including Fortress CreditOpportunities Advisors LLC, Centerbridge Partners, L.P., HarbingerCapital Partners LLC, and the Debtors, with the additional supportof SIG Holdings, Inc., and/or one of its designated affiliates,MAST Capital Management, LLC, and the Prepetition Agent. Thebankruptcy court confirmed the Plan on March 27, 2015.

Sanjiv Ahuja, former Chief Executive Officer and holder ofapproximately 8% of the existing common equity interests of debtorLightSquared, Inc., filed an appeal, arguing that (1) the Planviolates the "fair and equitable" requirements of 29 U.S.C. Section1129, (2) the Plan violates the equality of treatment rule ofSection 1123(a)(4) of the Bankruptcy Code, and (3) the Plan was notproposed in good faith.

Judge Forrest concluded that none of Ahuja's arguments had merit. Judge Forrest found that as an equity holder in LightSquared, Inc.,Ahuja does not participate in the Plan, no such equity holder does,and no class junior to Ahuja "leaps over" his class. Thus, thejudge found no violation of the absolute priority rule.

Judge Forrest also determined that the Plan does not violateSection 1123(a)(4) since the bankruptcy court specifically foundthat Harbinger's participation was based on its preferred equityinterests in LightSquared and the contributions of Harbinger'slitigation claims. Judge Forrest also found no merit in Ahuja'sclaim that he was misled into thinking that when signing asettlement agreement he would necessarily receive shares in thereorganized debtor. The judge held that the claim is one forbreach of the Settlement Agreement, but do not amount to a planproposed in bad faith.

LightSquared had invested more than $4 billion to deploy anintegrated satellite-terrestrial network. In February 2012,however, the U.S. Federal Communications Commission toldLightSquared the agency would revoke a license to build out thenetwork as it would interfere with global positioning systems usedby the military and various industries. In March 2012, theCompany's partner, Sprint, canceled a master services agreement.LightSquared's lenders deemed the termination of the Sprintagreement would trigger cross-defaults under LightSquared'sprepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate aglobal restructuring that would provide LightSquared with liquidityand runway necessary to resolve its issues with the FCC.

Despite working diligently and in good faith, however, LightSquaredand the lenders were not able to consummate a global restructuringon terms acceptable to all interested parties.

Bankruptcy Judge Shelley C. Chapman in late March 2015, approvedLightSquared Inc.'s Chapter 11 reorganization plan. As previouslyreported by The Troubled Company Reporter, the Debtors, inDecember, filed a joint plan and disclosure statement, whichcontemplate, among other things, (A) new money investments by theNew Investors in exchange for a combination of preferred and commonequity, (B) the conversion of the Prepetition LP Facility Claimsinto new second lien debt obligations, (C) the repayment in full,in cash, of the Inc. Facility Prepetition Inc. FacilityNonSubordinated Claims immediately following confirmation of thePlan, (D) the payment in full, in cash, of LightSquared's generalunsecured claims, (E) the provision of $1.25 billion in new moneyworking capital for the Reorganized Debtors, (F) the assumption ofcertain liabilities, (G) the resolution of all inter-Estatedisputes, and (H) the contribution by Harbinger of the HarbingerLitigations.

LONESTAR GEOPHYSICAL: Wants to Hire Deloitte Tax as Accountant--------------------------------------------------------------Lonestar Geophysical Surveys, LLC, asks the U.S. Bankruptcy Courtfor the Western District of Oklahoma for permission to employDeloitte Tax LLP, as accountants.

Deloitte Tax will assist the Debtor in the preparation of its 2014federal, state and local income tax returns.

According to the docket, the Debtor's Chapter 11 plan anddisclosure statement are due Sept. 15, 2015. Governmental proofsof claim are due Nov. 16, 2015.

The Debtor, in an amended schedules, disclosed total assets of $21,643,793 and total liabilities of $12,311,768.

LUCA INTERNATIONAL: Files for Chapter 11 to Sell Assets-------------------------------------------------------Houston-based oil and gas producer Luca International Group soughtbankruptcy protection due to cash woes and a move by the U.S.Securities and Exchange Commission for the appointment of areceiver.

Loretta Cross, who was brought to the Company as its chiefrestructuring officer, said the purpose of the Chapter 11 filing isto sell the Debtors' assets and create a source of funds that canbe used to repay creditors (including claims by litigants) andreturn any remaining amounts to investors.

According to a draft reserve report prepared in March, the Debtorshave proved developed non-producing and prove behind pipe netreserves of approximately 3.2 billion cubic feet of gas and 450million barrels of oil.

Bingqing Yang, the owner, financed the Debtors and affiliatedcompanies primarily by raising money from investors in China andJapan. Some of the investors participated in an EB5 visa programthat Ms. Yang organized. These funds were typically placed intoone entity and then used to pay expenses for one of the operatingcompanies or lent to one of the operating companies.

The SEC on July 6, 2015, filed with the Northern District ofCalifornia a suit against the Luca entities, Bingqing Yang, Lei(lily) Lei, Anthony V. Pollace, and Yong (Michael) Chen. The SEClitigation alleges that investors' funds were not spentappropriately or in accordance with the fund raising documents.

The SEC has moved for the appointment of a receiver along withother restrictive measures. The Luca entities are in the processof assessing the SEC's requests and will determine what actionsthey can agree to accept and which will be made moot by the filingof the Chapter 11 proceeding.

According to the CRO, the Company is simply out of cash. TheCompany owes more to trade creditors than it can pay for out of itscurrent operating cash flow. Over $500,000 of liens have beenplaced against the Belle Grove #1 well. Exploration anddevelopment costs were apparently excessive and drained theDebtors' cash. The debtor entities have been selectively marketingthe properties for sale to foreign buyers. They were notsuccessful in finding a buyer for the assets in a time frame thatwould have avoided a Chapter 11 filing.

The Debtors say they have obtained Debtor In Possession ("DIP")financing of up to $2 million, which they believe will besufficient to fund the company during the sales process.

The Debtors intend to use the next month to prepare the assets fora sale. This will include addressing maintenance needs, hiring aninvestment banker, stabilizing the production numbers and updatingthe reserve report.

The intention is to spend a reasonable period of time marketing theassets, estimated to be three to four months. This will ensurethat they give new buyers tune to do adequate due diligence, thusenhancing the value of the bids. In addition, they will re-engagewith potential buyers that have already been in discussions withthe Luca entities.

In addition to the sales process, a forensic investigation must bedone to assess if funds received from the investors, or borrowedfrom other sources left the Luca entities for inappropriate uses.The CRO says he will utilize the bankruptcy court as a means topursue the recovery of those funds.

Luca International Group LLC and Luca Operation, LLC, and theiraffiliates are engaged in the exploration and production of naturalgas, petroleum and related hydrocarbons. The primary assets arelocated in Iberville and Ascension Parishes in Louisiana. Theseassets include 3 operating oil and gas wells -- Belle Grove 1,Dugas & Leblanc 1 and Jumonville 2. In addition, the assetsinclude a water disposal well, Acosta 1, and a shut-in-oil and gaswell, Jumonville 1. The Luca entities also own oil and gas leasesin Texas and working interests in various locations. The Lucaentities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,Texas, on Aug. 6, 2015. The cases are assigned to Judge David RJones.

The Debtors tapped Hoover Slovacek, LLP, and BMC Group, Inc.

Luca International estimated $50 million to $100 million in assetsand debt.

The petitions were signed by Loretta R. Cross, the CRO.

LUCA INTERNATIONAL: Proposes $2MM DIP Loan from Schumann/Steier---------------------------------------------------------------Luca International Group LLC and Luca Operation LLC ask the U.S.Bankruptcy Court for the Southern District of Texas for authorityto obtain postpetition financing of up to $2,000,000 fromSchumann/Steier Holdings, LLC.

Schumann/Steier Holdings or its designee has agreed to providesecured DIP financing, pursuant to 11 U.S.C. Sec. 364(b), of up to$2,000,000 to cover the projected shortfalls in operating expensesand professional fees provided for in a budget.

The salient terms of the DIP facility are:

* Interest rate: LIBOR plus 15%, with a LIBOR floor of 3%. Upondisbursement of the Interim Draw, interest will at all times accrueon the greater of: (1) the Borrowers' outstanding balance under theDIP Facility; or (2) $1 million, until all amounts owed by theBorrowers under the DIP Facility have been paid in full.

* Interim Draw: $200,000, funded upon approval of the InterimDIP Motion to be filed as one of the first day motions by an Orderacceptable to the DIP Lender in its sole discretion.

* Maturity: Nine months from approval of the Interim DIP Motion

* Liens: In order to secure the Postpetition Debt, effectiveimmediately upon entry of the Interim Order, the DIP Lender will begranted continuing, valid, binding, enforceable, non-avoidable, andautomatically and properly perfected postpetition securityinterests in and liens, on all assets of the Debtors.

* Priority of Liens: To the extent permissible under theBankruptcy Code, pursuant to Sec. 364(d)(1) of the Bankruptcy Code,the Postpetition Liens will be senior in priority and superior toany security, mortgage collateral interest, lien or claim on or toany of the Collateral.

* Superpriority Claim: Upon entry of the Interim Order, the DIPLender will be granted, pursuant to section 364(c)(1) of theBankruptcy Code, an allowed superpriority claim against each of theDebtors in the Chapter 11 cases and any successor cases for allPostpetition Debt.

About Luca International

Luca International Group LLC and Luca Operation, LLC, and theiraffiliates are engaged in the exploration and production of naturalgas, petroleum and related hydrocarbons. The primary assets arelocated in Iberville and Ascension Parishes in Louisiana. Theseassets include 3 operating oil and gas wells -- Belle Grove 1,Dugas & Leblanc 1 and Jumonville 2. In addition, the assetsinclude a water disposal well, Acosta 1, and a shut-in-oil and gaswell, Jumonville 1. The Luca entities also own oil and gas leasesin Texas and working interests in various locations. The Lucaentities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,Texas, on Aug. 6, 2015. The cases are assigned to Judge David RJones.

The Debtors tapped Hoover Slovacek, LLP, and BMC Group, Inc.

Luca International estimated $50 million to $100 million in assetsand debt.

The petitions were signed by Loretta R. Cross, the CRO.

LUCA INTERNATIONAL: Proposes to Pay $214,000 to Critical Vendors----------------------------------------------------------------Luca International Group LLC, et al., filed with the U.S.Bankruptcy Court for the Southern District of Texas a motionseeking authority to pay the prepetition claims of critical vendorsin an amount less than $213,942 or 68% of the total estimatedamount owed to these critical vendors.

Counsel to the Debtors, Brendetta A. Scott, Esq., at HooverSlovacek LLP, explains that many of the vendors provide criticalsafety and environmental services, the loss of which could exposethe Debtors to significant remediation liability and compliancecosts. Also, the vendors have liens or the right to file liens,which are not barred by the automatic stay.

The Debtors provided a summary of the estimated total amount due toeach Critical Vendor, the requested amount, and the ratio ofrequested amount to estimated total amount due:

Luca International Group LLC and Luca Operation, LLC, and theiraffiliates are engaged in the exploration and production of naturalgas, petroleum and related hydrocarbons. The primary assets arelocated in Iberville and Ascension Parishes in Louisiana. Theseassets include 3 operating oil and gas wells -- Belle Grove 1,Dugas & Leblanc 1 and Jumonville 2. In addition, the assetsinclude a water disposal well, Acosta 1, and a shut-in-oil and gaswell, Jumonville 1. The Luca entities also own oil and gas leasesin Texas and working interests in various locations. The Lucaentities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,Texas, on Aug. 6, 2015. The cases are assigned to Judge David RJones.

The Debtors tapped Hoover Slovacek, LLP, and BMC Group, Inc.

Luca International estimated $50 million to $100 million in assetsand debt.

The petitions were signed by Loretta R. Cross, the CRO.

LUCA INTERNATIONAL: Seeks to Reject 3 Leases--------------------------------------------Luca International Group LLC, et al., are asking the U.S.Bankruptcy Court for the Southern District of Texas for approval toreject these executory contracts:

-- an office space lease for the premises at 600 Travis Street,Suite B1.009 in Houston, signed by Luca International Group (Texas)LLC with Texas Tower Limited;

-- Vehicle Lease CSOOW4 signed by Luca Operation LLC withFletcher Jones of Motorcars of Freemont; and

-- Vehicle Lease S550V signed by Luca Operation LLC with FletcherJones of Motorcars of Freemont.

T. Josh Judd, Esq., at Hoover Slovaceck LLP, explains that theDebtors are currently undergoing a comprehensive review of theirexecutory contracts to determine which contracts to assume andwhich to reject. Because the Debtors have reduced operations andanticipate selling substantially all of their physical assets, theDebtors no longer require certain executory contracts and will seekto reject those contracts that provide no meaningful value orbenefit to the Debtors' estates.

About Luca International

Luca International Group LLC and Luca Operation, LLC, and theiraffiliates are engaged in the exploration and production of naturalgas, petroleum and related hydrocarbons. The primary assets arelocated in Iberville and Ascension Parishes in Louisiana. Theseassets include 3 operating oil and gas wells -- Belle Grove 1,Dugas & Leblanc 1 and Jumonville 2. In addition, the assetsinclude a water disposal well, Acosta 1, and a shut-in-oil and gaswell, Jumonville 1. The Luca entities also own oil and gas leasesin Texas and working interests in various locations. The Lucaentities are owned by Bingqing Yang.

Luca International Group and 11 related entities sought Chapter 11protection (Bankr. S.D. Tex. Lead Case No. 15-34221) in Houston,Texas, on Aug. 6, 2015. The cases are assigned to Judge David RJones.

The Debtors tapped Hoover Slovacek, LLP, and BMC Group, Inc.

Luca International estimated $50 million to $100 million in assetsand debt.

The petitions were signed by Loretta R. Cross, the CRO.

METROPOLITAN PIER: Skips Debt-Fund Payment Due to Budget--------------------------------------------------------Elizabeth Campbell, writing for Bloomberg News, reported thatChicago's Metropolitan Pier and Exposition Authority was unable tomake a monthly payment into the fund that cover its debt billsbecause of the political impasse that's left Illinois without abudget for more than a month.

According to the report, citing a filing with the MunicipalSecurities Rulemaking Board, the authority failed to make arequired July deposit of $20.8 million for debt service on theconvention center's bonds, which are backed by Illinois sales taxesand other levies collected by the authority. The agency said thatit has the money for the reserve payment but can't transfer thefunds until the legislature allows it to do so, the report related.

MG GLOBAL: Supplemental Admin. Claims Bar Date Set for Sept. 4--------------------------------------------------------------The U.S. Bankruptcy Court for the Southern District of New York setSept. 4, 2015, at 5:00 p.m. (prevailing Pacific Time), as thedeadline for each person or entity to file supplementaladministrative proofs of claim against MF Global Inc. with respectto administrative expenses arising between Sept. 1, 2013, and July31, 2015.

The Court noted the deadline for asserting customer or generalcreditor claims that arose before Oct. 31, 2011, and June 2, 2012,and any such claim is now time-barred. The MF Global trustee hasissued determinations allowing or denying all customer claims. Thedeadline for asserting administrative proofs of claim with respectto administrative expenses arising between Oct. 11, 2011, and Aug.31, 2013, was Nov. 10, 2013.

New York-based MF Global -- http://www.mfglobal.com/-- was one of the world's leading brokers of commodities and listed derivatives. MF Global provides access to more than 70 exchanges around theworld. The firm also was one of 22 primary dealers authorized totrade U.S. government securities with the Federal Reserve Bank ofNew York. MF Global's roots go back nearly 230 years to a sugarbrokerage on the banks of the Thames River in London.

On Nov. 7, 2011, the United States Trustee appointed the statutorycreditors' committee in the Debtors' cases. At the behest of theStatutory Creditor's Committee, the Court directed the U.S. Trusteeto appoint a chapter 11 trustee. On Nov. 28, 2011, the BankruptcyCourt entered an order approving the appointment of Louis J. Freeh,Esq., of Freeh Group International Solutions, LLC, as Chapter 11trustee.

The Official Committee of Unsecured Creditors has retained CapstoneAdvisory Group LLC as financial advisor, while lawyers at ProskauerRose LLP serve as counsel.

The Securities Investor Protection Corporation commencedliquidation proceedings against MF Global Inc. to protectcustomers. James W. Giddens was appointed as trustee pursuant tothe Securities Investor Protection Act. He is a partner at HughesHubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of GoldmanSachs Group Inc., stepped down as chairman and chief executiveofficer of MF Global just days after the bankruptcy filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'plan to liquidate its assets. Bloomberg News reported that thecourt-approved disclosure statement initially told creditors with$1.134 billion in unsecured claims against the parent holdingcompany why they could expect a recovery of 13.4% to 39.1% from theplan. As a consequence of a settlement with JPMorgan, supplementalmaterials informed unsecured creditors their recovery was reducedto the range of 11.4% to 34.4%. Bank lenders will have the samerecovery on their $1.174 billion claim against the holding company.As a consequence of the settlement, the predicted recovery became18% to 41.5% for holders of $1.19 billion in unsecured claimsagainst the finance subsidiary, one of the companies under theumbrella of the holding company trustee. Previously, the predictedrecovery was 14.7% to 34% on bank lenders' claims against thefinance subsidiary.

MGM RESORTS: Posts $97.4 Million Net Income for Second Quarter--------------------------------------------------------------MGM Resorts International filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing net incomeattributable to the Company of $97.4 million on $2.3 billion ofrevenues for the three months ended June 30, 2015, compared to netincome attributable to the Company of $110 million on $2.5 billionof revenues for the same period during the prior year.

For the six months ended June 30, 2015, the Company reported netincome attributable to the Company of $267.3 million on $4.7billion of revenues compared to net income attributable to theCompany of $212.6 million on $5.2 billion of revenues for the sameperiod in 2014.

As of June 30, 2015, the Company had $27.1 billion in total assets,$17.9 billion in total liabilities, $5 million in redeemablenoncontrolling interest and $9.1 billion in total stockholders'equity.

MGM Resorts International (NYSE: MGM) a global hospitalitycompany, operating a portfolio of destination resort brandsincluding Bellagio, MGM Grand, Mandalay Bay and The Mirage. TheCompany also owns 51% of MGM China Holdings Limited, which ownsthe MGM Macau resort and casino and is in the process ofdeveloping a gaming resort in Cotai, and 50% of CityCenter in LasVegas, which features ARIA resort and casino. For moreinformation about MGM Resorts International, visit the Company'sWeb site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of$156.60 million in 2013 following a net loss attributable to theCompany of $1.76 billion in 2012.

* sell assets or consolidate with another company or sell all or substantially all assets;

* enter into transactions with affiliates;

* allow certain subsidiaries to transfer assets; and

* enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected byevents beyond our control. The breach of any such covenants orobligations not otherwise waived or cured could result in adefault under the applicable debt obligations and could triggeracceleration of those obligations, which in turn could triggercross defaults under other agreements governing our long-termindebtedness. Any default under our senior secured creditfacility or the indentures governing our other debt couldadversely affect our growth, our financial condition, our resultsof operations and our ability to make payments on our debt, andcould force us to seek protection under the bankruptcy laws."

* * *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's RatingsServices raised its corporate credit rating on MGM ResortsInternational to 'B-' from 'CCC+'. In March 2012, S&P revisedthe outlook to positive from stable.

"The revision of our rating outlook to positive reflects strongperformance in 2011 and our expectation that MGM will continue tobenefit from the improving performance trends on the Las VegasStrip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporatefamily rating and probability of default rating. The affirmationof MGM's B2 Corporate Family Rating reflects Moody's view thatpositive lodging trends in Las Vegas will continue through 2012which will help improve MGM's leverage and coverage metrics,albeit modestly. Additionally, the company's declaration of a $400million dividend ($204 million to MGM) from its 51% owned Macaujoint venture due to be paid shortly will also improve thecompany's liquidity profile. The ratings also consider MGM'srecent bank amendment that resulted in about 50% of its$3.5 billion senior credit facility being extended one year from2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings hasupgraded MGM Resorts International's (MGM) and MGM China HoldingsLtd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',respectively. Fitch's upgrade of MGM's IDR to 'B+' and thePositive Outlook reflect the company's strong performance on theLas Vegas Strip and in Macau as well as Fitch's longer-termpositive outlooks for these markets.

MIDSTATES PETROLEUM: Incurs $598 Million Net Loss in Q2-------------------------------------------------------Midstates Petroleum Company, Inc. filed with the Securities andExchange Commission its quarterly report on Form 10-Q disclosing a net loss of $598.4 million on $74.7 million of total revenues forthe three months ended June 30, 2015, compared to a net loss of$2.1 million on $147.9 million of total revenues for the sameperiod last year.

For the six months ended June 30, 2015, the Company reported a netloss of $791.9 million on $185.9 million of total revenues comparedto a net loss of $85.7 million on $292.6 million of total revenuesfor the same period a year ago.

As of June 30, 2015, the Company had $1.7 billion in total assets,$2.1 billion in total liabilities and a $322.7 million totalstockholders' deficit.

Midstates Petroleum Company, Inc. --http://www.midstatespetroleum.com/-- is an independent exploration and production company focused on the application of moderndrilling and completion techniques in oil and liquids-rich basinsin the onshore U.S. Midstates' drilling and completion efforts arecurrently focused in the Mississippian Lime oil play in Oklahomaand Anadarko Basin in Texas and Oklahoma. The Company's operationsalso include the upper Gulf Coast tertiary trend in centralLouisiana.

Midstates reported net income of $117 million on $794 million oftotal revenues for the year ended Dec. 31, 2014, compared to a netloss of $344 million on $470 million of total revenues for the yearended Dec. 31, 2013.

According to the report, citing two people familiar with thesituation, Humana Inc. has sought monetary damages tied toallegedly unlawful insurance claims made by the drug tester. Humana sought the damages, along with injunctive relief, through ademand for arbitration dated May 29, the people said, the reportrelated.

* * *

The Troubled Company Reporter, citing The Wall Street Journal,reported that Millennium Health LLC is working with restructuringadvisers at Lazard Ltd. to explore options for bolstering itsfinances as it looks to move past a billing dispute with the U.S.government.

The TCR, on July 30, 2015, reported that Moody's Investors Servicedowngraded Millennium Health, LLC's Corporate Family Rating to Caa2from B2 and Probability of Default Rating to Caa2-PD from B2-PD. Additionally, Moody's downgraded the ratings on the company'ssenior secured credit facilities to Caa2 (LGD 4) from B2 (LGD 4). The ratings remain under review for further downgrade.

The TCR, on July 23, 2015, reported that Standard & Poor's RatingsServices placed all of its ratings, including its 'B' corporatecredit rating, on San Diego-based clinical toxicology laboratoryservices provider Millennium Health LLC on CreditWatch withnegative implications.

"The CreditWatch listing reflects our view that there isconsiderable uncertainty regarding Millennium's ability to serviceits debt over the long term, given the ongoing, rapiddeteriorationin the reimbursement rates that the company receives for urinedrugtesting as well as the company's need to fund its pendingsettlement regarding Medicare overbilling allegations," saidcreditanalyst Shannan Murphy. "While the amount and timing of anysettlement has not yet been disclosed, we believe the amount willlikely significantly exceed the approximately $60 million in cashthe company held at March 31, 2015. Further, we believe thecompany's financial covenants and falling EBITDA would preclude itfrom accessing the revolver to fund any settlement. As such, webelieve a lump-sum payment requirement could result in a liquidityevent."

MOBILESMITH INC: Incurs $1.8 Million Net Loss in Second Quarter---------------------------------------------------------------MobileSmith, Inc. filed with the Securities and Exchange Commissionits quarterly report on Form 10-Q disclosing a net loss of $1.8 million on $407,545 of total revenue for thethree months ended June 30, 2015, compared to a net loss of $1.6million on $194,783 of total revenue for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $3.7 million on $833,733 of total revenue compared to a netloss of $3.2 million on $382,729 of total revenue for the sameperiod during the prior year.

As of June 30, 2015, the Company had $1.9 million in total assets,$37.3 million in total liabilities and a $35.4 million totalstockholders' deficit.

MobileSmith, Inc. (formerly, Smart Online, Inc.) was incorporatedin the State of Delaware in 1993. The Company changed its name toMobileSmith, Inc., effective July 1, 2013. The Company developsand markets software products and services tailored to users ofmobile devices. The Company's flagship product is TheMobileSmithTM Platform. The MobileSmithTM Platform is aninnovative, patents pending mobile app development platform thatenables organizations to rapidly create, deploy, and managecustom, native smartphone apps deliverable across iOS and Androidmobile platforms.

MobileSmith reported a net loss of $7.33 million on $879,000 oftotal revenue for the year ended Dec. 31, 2014, compared to a netloss of $27.5 million on $339,000 of total revenue in 2013.

Cherry Bekaert LLP, in Raleigh, North Carolina, issued a "goingconcern" qualification in its report on the consolidated financialstatements for the year ended Dec. 31, 2014, citing that theCompany has suffered recurring losses from operations and has aworking capital deficiency as of Dec. 31, 2014. These conditionsraise substantial doubt about the Company's ability to continue asa going concern.

MONAKER GROUP: Posts $2.7 Million Net Loss for May 31 Quarter-------------------------------------------------------------Monaker Group, Inc. filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net lossof $2.7 million on $336,093 of total revenues for the three monthsended May 31, 2015, compared to a net loss of $546,288 on $344,957of total revenues for the same period in 2014.

As of May 31, 2015, the Company had $7.4 million in total assets,$10.2 million in total liabilities and a $2.8 million totalstockholders' deficit.

At May 31, 2015, the Company had $96,778 cash on-hand, a decreaseof $129,634 from $226,412 at the start of fiscal 2016. Thedecrease in cash was due primarily to operating expenses, websitedevelopment costs and advances to affiliates.

Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., isa digital media marketing company focusing on lifestyle enrichmentfor consumers in the travel, home and employment sectors. Core toits marketing services are key elements including proprietaryvideo-centered technology and established partnerships that enhanceits reach. Video is quickly becoming consumer's preferred methodof searching and educating themselves prior to purchases. Monaker's video creation technology and film libraries combine tocreate lifestyle video offerings that can be shared both to itscustomers and through trusted distribution systems of its majorpartners. The end result is better engagement with consumers whogain in-depth information on related products and services helpingto both inform and fulfill purchases. Unlike traditional marketingcompanies that simply charge for advertising creation, Monakerholds licenses and/or expertise in the travel, real estate andemployment sectors allowing it to capture fees at the point ofpurchase while the majority of transactions are handled byMonaker's partners. This should allow the company to capturegreater revenues while eliminating much of the typical overheadassociated with fulfillment. Monaker core holdings includeMaupintour, NameYourFee.com, RealBiz Media Group - helping it todeliver marketing solutions to consumers at home, work and play.

Next 1 Interactive reported a net loss of $50,486 on $1.1 millionof total revenues for the year ended Feb. 28, 2015, compared to anet loss of $18.3 million on $1.5 million of total revenues for theyear ended Feb. 28, 2014.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "goingconcern" qualification on the consolidated financial statements forthe year ended Feb. 28, 2015, citing that the Company has incurredan operating loss of $5,437,235 and net cash used in operations of$2,624,822 for the year ended Feb. 28, 2015, and the Company had anaccumulated deficit of $86,078,617 and a working capital deficit of$12,811,302 at February 28, 2015. These conditions raisesubstantial doubt about the Company's ability to continue as agoing concern.

The ratings on MGC primarily reflect balanced recent rate caseoutcomes in an otherwise challenging regulatory environment in WestVirginia. The ratings also incorporate an elevated capex programand a private equity ownership structure with an aggressivefinancial policy.

KEY RATING DRIVERS

Pending Approval of 2015 General Rate Case Settlement

Fitch considers the 2015 general rate case (GRC) settlementagreement to be balanced and consistent with prior rate caseoutcomes. In July 2015, MGC, the Public Service Commission of WestVirginia (PSCWV) staff, the Consumer Advocate Division of theCommission, and selected commercial customers that havecollectively intervened as the West Virginia Energy Users Groupjoined in a joint stipulation and agreement for settlementregarding MGC's 2015 GRC. The joint stipulation is subject to thePSCWV's acceptance and approval, which Fitch expects to occur bythe beginning of November.

The joint stipulation would result in a base rate increase of $7.7million, or 3.0%, which is based on a historical test year endedSept. 30, 2014, and an authorized return on equity (ROE) of 9.75%.MGC had requested a $12.2 million base rate increase based on aforecasted test year ending Sept. 30, 2016. The joint stipulationincludes MGC's proposal to decrease its purchased gas adjustment(PGA) rate, which would result in a net decrease in overall rateseven after factoring in the proposed base rate increase. Therequested effective date of implementation for the base rateincrease and PGA rate decrease is Nov. 1, 2015.

MGC received a balanced ruling in its last GRC. The PSCWV approveda $6.265 million rate increase effective Nov. 1, 2012, representingapproximately 60% of MGC's revised revenue request. The rates werebased on an authorized ROE of 9.9%. In April 2013, the PSCWVauthorized an additional $522,000 annual revenue increase.

Challenging Regulatory Environment

Fitch considers the West Virginia regulatory environment to bechallenging, despite MGC receiving relatively constructive baserate increases and slightly better than average authorized ROEs forgas distribution utilities during its recent rate cases. The PSCWVdoes not currently allow MGC the use of many regulatory mechanismsauthorized in more-supportive regulatory jurisdictions, which wouldprovide greater stability and predictability to cash flows.

MGC does not have revenue decoupling or weather normalization, nordoes it have riders for infrastructure replacement costs, pensionexpense, bad debt expense, or property taxes. In addition, thePSCWV uses a historical test year, as opposed to a forecasted testyear, for determining rate increases. As a result, MGC is expectedto continue to under-earn on its authorized ROE and experiencesignificant volatility in cash flows.

Elevated Capex

MGC projects annual capex spending to range between $19 million and$21 million from 2015 through 2018, about 40% higher than theaverage capex over 2011-2013. MGC, similar to the rest of thenatural gas distribution industry, is incurring higher spending forpipe integrity and safety inspections as well as replacement ofolder bare steel pipe, which accounts for roughly a quarter of itspipeline system. The full replacement of MGC's bare steel pipe isexpected to take several decades at the current rate.

MGC has requested approval of a multi-year infrastructureimprovement rider that would allow for contemporaneous recovery ofreplacing, upgrading, and expanding gas infrastructure. Fitch wouldview approval of such a rider as credit-supportive in its abilityto help reduce regulatory lag associated with MGC recovering itsinfrastructure investment costs. Legislation was signed by WestVirginia Governor Tomblin in March 2015, and Fitch expects a PSCWVdecision before the end of 2015.

MGC's dividend payout ratio was nearly 90% in 2014, significantlyhigher than the industry average of roughly 65%. Fitch expects MGCto continue with an above average dividend payout ratio close to100% in future years. Capital access is limited, although MGCreceived a $20 million equity infusion in 2014. MGC may requirefurther equity infusions and/or revolver borrowings to fund itselevated capex program and maintain its aggressive dividendpolicy.

Supportive, But Volatile, Financial Metrics

Fitch expects MGC's financial profile to remain supportive of theratings, but the company's small size, seasonal working capitalborrowings, and exposure to the effects of weather result insignificant swings in financial metrics, both on a seasonal basisand year-to-year. Due to the seasonal nature of the winter heatingseason, short-term debt used to finance natural gas inventories andcarry customer receivables normally peaks in late December and thenis typically paid down by the end of the first quarter. There were$36 million of short-term borrowings at year-end 2014 and none atJune 30, 2015.

Positive: A positive rating action is not likely, given thechallenging regulatory environment in West Virginia, volatility ofMGC's financial metrics, and ownership's aggressive financialpolicy. However, a positive rating action could occur if the PSCWVwere to implement regulatory mechanisms that were sufficient enoughto provide a greater level of stability and predictability to cashflows. In addition, Fitch would look for stability andsustainability among the following financial metrics: FFOfixed-charge coverage greater than 4.1x, FFO-adjusted leverage toremain less than 5.0x, and adjusted debt/EBITDAR less than 4.0x.

Negative: Factors that could lead to a downgrade include futureunfavorable regulatory orders that restrict MGC's ability torecover costs in a timely manner, a more-aggressive managementpolicy that leads to greater distributions to owners and increasedleverage, and a failure to maintain FFO-adjusted leverage of lessthan 6.0x and FFO fixed-charge coverage of at least 3.5x on asustained basis.

LIQUIDITY

Fitch considers MGC's liquidity to be adequate, primarily supportedby a $100 million unsecured revolving credit facility. Thefive-year facility expires Dec. 1, 2019, and includes an accordionfeature that could expand the size of the facility up to $170million to account for unusually high natural gas prices andvolumes that can occur during the winter heating season. Thisfacility should provide MGC with sufficient availability for itsworking capital needs following the May 2013 expiration of theutility's gas asset management agreement with Sequent. As of June30, 2015, there were no borrowings outstanding under the facility,leaving $100 million of availability.

The credit facility includes financial covenants to maintain EBITDAinterest coverage of at least 2.0x and a debt/capitalization rationo greater than 65%. There is also an annual cap of $25 million forcapex. MGC is in compliance with all of its financial covenants.

At the same time, S&P assigned its 'BB-' issue-level rating and '2'recovery rating to the company's proposed first-lien senior securedcredit facility, which consists of a $1.12 billion term loan due2022 and a $50 million revolving credit facility due 2020, whichwill be undrawn at closing. The '2' recovery rating reflects S&P'sexpectation for substantial recovery (70%-90%; upper half of therange) of principal in the event of default.

The company will use the proceeds from the transaction to refinanceits existing term loan and to fund a $100 million special dividendto its owners. The company will also commit $80 million of the proceeds to partially prepay the term loan orthe existing senior unsecured notes (not rated) within 12 monthsfollowing the transaction.

"The 'B+' corporate credit rating reflects our view that MTL willcontinue to generate consistent and predictable cash flows,adjusted debt leverage will remain above 6x, and free operatingcash flow to debt will remain above 5% over the next 12-18 months,"said Standard & Poor's credit analyst Naveen Sarma. Pro forma forthe transaction, the company's adjusted debt to EBITDA ratio was6.1x as of June 30, 2015 (5.8x pro forma if the $80 million debt is repaid). S&P expects that company's leveragewill decline to the low-6x area in fiscal 2017 and the mid-5x areain fiscal 2018 as the company continues to prepay its debt throughits excess cash flow sweep.

"The stable rating outlook on MTL reflects our view that thecompany will continue to generate consistent and predictable freecash flow," said Mr. Sarma. "The outlook also reflects ourexpectation that MTL's free operating cash flow to debt will remainat least above 5% over the next 12-18 months, even though itsadjusted leverage will remain above 5x."

S&P could lower the rating if operating performance deteriorationcauses the company's cash flow metrics to weaken. This could occurif the company's performance and sync royalty streams are unable tooffset a significant portion of the expected decline in mechanicalphysical royalties, causing free operating cash flow to debtfalling below 5%.

An upgrade, which S&P views as unlikely at this time, would requiredebt leverage declining meaningfully to below 5x, which could occurthrough EBITDA growth, debt repayment, and a less aggressivefinancial policy.

NAKED BRAND: Amends 6% Senior Secured Convertible Debentures------------------------------------------------------------Naked Brand Group Inc. amended its 6% Senior Secured ConvertibleDebentures in the aggregate principal amount of $6,997,577 issuedin connection with a private placement offering with respect towhich closings occurred on June 10, 2014, and July 8, 2014, via thewritten consent of the Company and the holders of a majority of theaggregate principal amount of the Debentures outstanding. TheDebentures were amended as follows:

* The automatic conversion provisions of the Debentures were amended to provide that (i) the Debentures will automatically convert into shares of the Company's common stock upon the closing, or any combination of closings, of any equity offerings or financings with aggregate gross proceeds to the Company of at least $8,000,000; and (ii) the amount of principal and interest to be converted in connection with such an automatic conversion shall include an additional amount of interest equal to six months of interest that would have accrued under the terms of the Debentures.

* The definition of "Permitted Lien" was amended to include liens securing the indebtedness described in the definition of "Permitted Indebtedness" in order to clarify the Company's ability to utilize receivables and inventory as collateral under factoring agreements entered into in the ordinary course of operations.

About Naked Brand

Naked Brand Group Inc. designs, manufactures, and sells men'sinnerwear and lounge apparel products in the United States andCanada. It offers various innerwear products, including trunks,briefs, boxer briefs, undershirts, T-shirts, and lounge pantsunder the Naked brand, as well as under the NKD sub-brand for men.The company sells its products to consumers and retailers throughwholesale relationships and direct-to-consumer channel, whichconsists of an online e-commerce store, thenakedshop.com. NakedBrand Group Inc. is based in New York, New York.

Naked Brand reported a net loss of $21.07 million for the yearended Jan. 31, 2015, compared to a net loss of $4.23 million forthe year ended Jan. 31, 2014.

As of April 30, 2015, the Company had $1.70 million in totalassets, $1.30 million in total liabilities and $436,000 in totalstockholders' equity.

BDO USA, LLP, in New York, NY, issued a "going concern"qualification on the consolidated financial statements for the yearended Jan. 31, 2015, citing that the Company incurred a net loss of$21,078,265 for the year ended Jan. 31, 2015, had a capital deficitof $2,224,180 at Jan. 31, 2015, and the Company expects to incurfurther losses in the development of its business. Theseconditions raise substantial doubt about the Company's ability tocontinue as a going concern.

NAKED BRAND: Notifies FINRA of Reverse Common Stock Split---------------------------------------------------------The Board of Directors of Naked Brand Group Inc. previouslyapproved a reverse stock split of the Company's common stockpursuant to which (i) the Company will effect a 1-for-40 reversesplit of its common stock and (ii) the number of authorized sharesof the Company's common stock will decrease from 450,000,000 to11,250,000. Under Nevada law, shareholder consent is not requiredto approve or effect the reverse stock split.

The Company has notified the Financial Industry RegulatoryAuthority of its intent to effect the reverse stock split. Thereverse stock split will be effected by the Company filing aCertificate of Change with the Secretary of State of the State ofNevada. Under Nevada law, no amendment to the Company's articlesof incorporation is required in connection with the reverse stocksplit. The reverse stock split will not be effective until theCompany takes the actions required by FINRA and the State of Nevada(including the filing of the Certificate of Change). The Companyanticipates that the reverse stock split will be effected on orabout Aug. 10, 2015. The Company will disclose the actualeffective date of the reverse stock split, if effected, on a futuredate by appropriate announcement. The Board of Directors may delayor abandon the reverse stock split in its sole discretion.

If the reverse stock split is effected, every 40 shares of theCompany's common stock that are issued and outstanding as of theapplicable record date will automatically be combined into oneissued and outstanding share without any change in the par value ofthose shares. If the reverse split is effected, no fractionalshares will be issued in connection with the reverse stock splitand shareholders who are entitled to a fractional share willinstead receive a whole share.

If the reverse stock split is effected, the reverse stock splitwill affect all holders of the Company's common stock uniformly andwill not affect any shareholder's percentage ownership interest inthe Company, except to the extent the reverse split will result inany holder being granted a whole share for any fractional sharethat resulted from the reverse split. All options, warrants andconvertible securities of the Company outstanding immediately priorto the reverse stock split will be appropriately adjusted if thereverse stock split is effected.

The Board of Directors approved the reverse stock split as part ofthe Company's pursuit of listing of its common stock on a nationalsecurities exchange. The Company has not yet submitted a listingapplication with any national securities exchange and, at present,the Company does not meet all of the initial listing requirementsof any national securities exchange. The Company can make noassurance that it will meet the requirements to file a listingapplication with a national securities exchange or that, if such anapplication is filed, that such listing will be approved.

About Naked Brand

Naked Brand Group Inc. designs, manufactures, and sells men'sinnerwear and lounge apparel products in the United States andCanada. It offers various innerwear products, including trunks,briefs, boxer briefs, undershirts, T-shirts, and lounge pantsunder the Naked brand, as well as under the NKD sub-brand for men.The company sells its products to consumers and retailers throughwholesale relationships and direct-to-consumer channel, whichconsists of an online e-commerce store, thenakedshop.com. NakedBrand Group Inc. is based in New York, New York.

Naked Brand reported a net loss of $21.07 million for the yearended Jan. 31, 2015, compared to a net loss of $4.23 million forthe year ended Jan. 31, 2014.

As of April 30, 2015, the Company had $1.70 million in totalassets, $1.30 million in total liabilities and $436,000 in totalstockholders' equity.

BDO USA, LLP, in New York, NY, issued a "going concern"qualification on the consolidated financial statements for the yearended Jan. 31, 2015, citing that the Company incurred a net loss of$21,078,265 for the year ended Jan. 31, 2015, had a capital deficitof $2,224,180 at Jan. 31, 2015, and the Company expects to incurfurther losses in the development of its business. Theseconditions raise substantial doubt about the Company's ability tocontinue as a going concern.

NAKED BRAND: Receives $2.3 Million From Warrant Exercise--------------------------------------------------------Naked Brand Group Inc. had received gross proceeds of approximately$2.34 million in connection with the Company's offer to amend andexercise warrants. The Company plans to use the net proceeds fromthe offering to fund ongoing operations, including the Company'sefforts to accelerate sales and distribution of its men'scollection, to launch and establish sales and distribution for itswomen's collection, to develop additional product lines, includingits recently announced Dwyane Wade signature collection which Nakedexpects to launch in 2016, to implement marketing and brandawareness campaigns, and to explore opportunities to establishinternational distribution relationships and other strategicpartnerships for the Company. In addition, the proceeds will alsohelp the Company increase stockholders' equity, which, along withother changes to its capital structure that Naked intends tocomplete, is necessary to further the Company's goal to pursue alisting of its common stock on a national securities exchange suchas Nasdaq or NYSE MKT.

"I am thrilled with the exceptional support we have received fromour investors," said Carole Hochman, the chief executive officer,chief creative officer and chairwoman of Naked. "This capital willhelp us continue building momentum as a brand with the success weare having with our men's collection, the launch of our firstwomen's collection and our partnership with Dwyane Wade. I am soproud of our team and all we have accomplished in the past year. We anticipate that the year ahead will be even more exciting andproductive for Naked as we focus on revenue growth, launchinginnovative marketing campaigns and delivering outstanding, newproducts to our customers."

In connection with the offering, warrant holders elected toexercise a total of 23,427,779 of their $0.15 warrants at a reducedexercise price of $0.10 per share, providing a total of $2,342,777in gross proceeds to the Company. This amount includes theexercise of 8,210,004 warrants in aggregate for a total of $821,000by Carole Hochman, David Hochman, Vice Chairman of Naked, and NicoPronk, CEO of Noble Financial Capital Markets, on the same terms asthe warrant offering on July 7, 2015.

Further, the holders of a majority in principal amount ofconvertible debentures that were issued together with certain ofthe warrants as part of an investment unit in connection with theCompany's $7.3 million private placement completed in June and July2014, voted to amend the automatic conversion provisions of thedebentures to reduce the conversion threshold from $10 milliongross proceeds received from an underwritten financing to $8million in gross proceeds in the aggregate from any equityfinancings or combination thereof, including the proceeds of theoffer to amend and restate the warrants. The Company believes thisamendment to the debentures will also assist the Company in meetingcertain listing requirements of either Nasdaq or NYSE MKT in thefuture. As part of the Company's plan to pursue a nationalsecurities exchange listing, Naked also announced that it wouldcomplete a 1-for-40 reverse split of its common stock effective.The reverse stock split is intended to better enable the Company tomeet the certain requirements for listing its common stock oneither Nasdaq or NYSE MKT. The Company anticipates that thereverse stock split will become effective on or about Aug. 10,2015, but not before all regulatory approvals have been obtainedand necessary filings have been made with the appropriateauthorities.

"Strengthening our capital markets position is an important part ofour growth strategy for Naked," said Founder and president JoelPrimus. "This funding and the confidence shown by our investorsputs us in a stronger position and we are so excited to keep movingforward in building our company and establishing our brand. Naked'smission is to help our customers find the 'Freedom to Be You' bygiving them products that set a new standard for fit, feel andfunction for innerwear and beyond."

Naked Brand Group Inc. designs, manufactures, and sells men'sinnerwear and lounge apparel products in the United States andCanada. It offers various innerwear products, including trunks,briefs, boxer briefs, undershirts, T-shirts, and lounge pantsunder the Naked brand, as well as under the NKD sub-brand for men.The company sells its products to consumers and retailers throughwholesale relationships and direct-to-consumer channel, whichconsists of an online e-commerce store, thenakedshop.com. NakedBrand Group Inc. is based in New York, New York.

Naked Brand reported a net loss of $21.07 million for the yearended Jan. 31, 2015, compared to a net loss of $4.23 million forthe year ended Jan. 31, 2014.

As of April 30, 2015, the Company had $1.70 million in totalassets, $1.30 million in total liabilities and $436,000 in totalstockholders' equity.

BDO USA, LLP, in New York, NY, issued a "going concern"qualification on the consolidated financial statements for the yearended Jan. 31, 2015, citing that the Company incurred a net loss of$21,078,265 for the year ended Jan. 31, 2015, had a capital deficitof $2,224,180 at Jan. 31, 2015, and the Company expects to incurfurther losses in the development of its business. Theseconditions raise substantial doubt about the Company's ability tocontinue as a going concern.

NATIONAL CINEMEDIA: Reports Results for Fiscal 2nd Quarter 2015---------------------------------------------------------------National CineMedia, Inc., reported net income attributable to theCompany of $10.1 million on $121.5 million of advertising revenuefor the quarter ended July 2, 2015, compared to net incomeattributable to the Company of $3.6 million on $99.9 million ofadvertising revenue for the quarter ended June 26, 2015.

For the six months ended July 2, 2015, the Company reported netincome attributable to the Company of $1.1 million on $198.4million of advertising revenue compared to net income attributableto the Company of $500,000 on $170.1 million of advertising revenuefor the six months ended June 26, 2014.

Commenting on the Company's second quarter operating results, KurtHall, NCM's Chairman and CEO said, "Our record second quarteradvertising revenue and Adjusted OIBDA and strong third quarterguidance reflect the hard work of the NCM team." Mr. Hallcontinued, "A very successful upfront campaign last year andseveral quarters of video market share gains provides clearevidence that media buyers are looking for premium videoalternatives where they know their ads will be seen." Mr. Hallconcluded, "As we continue to expand our cinema network reach andimprove our targeting and data analytics capabilities, I amconfident that NCM will continue to strengthen its valueproposition relative to other video advertising networks."

The Company announced that its Board of Directors has authorizedthe Company's regular quarterly cash dividend of $0.22 per share ofcommon stock. The dividend will be paid on Sept. 3, 2015, tostockholders of record on Aug. 20, 2015. The Company intends topay a regular quarterly dividend for the foreseeable future at thediscretion of the Board of Directors consistent with the Company'sintention to distribute over time a substantial portion of its freecash flow in the form of dividends to its stockholders. Thedeclaration, payment, timing and amount of any future dividendspayable will be at the sole discretion of the Board of Directorswho will take into account general economic and advertising marketbusiness conditions, the Company's financial condition, availablecash, current and anticipated cash needs, and any other factorsthat the Board of Directors considers relevant.

NAVISTAR INTERNATIONAL: Hotchkis and Wiley Reports 10.4% Stake--------------------------------------------------------------Hotchkis and Wiley Capital Management, LLC disclosed in aregulatory filing with the Securities and Exchange Commission thatas of July 31, 2015, it beneficially owned 8,527,172 shares ofcommon stock of Navistar International Corp., which represents10.46 percent of the shares outstanding. Hotchkis and WileyMid-Cap Value Fund also owned 4,521,300 shares as of that date. Acopy of the Schedule 13G is available at http://is.gd/Pw8raf

About Navistar International

Navistar International Corporation (NYSE: NAV) --http://www.navistar.com/-- is a holding company whose subsidiaries and affiliates subsidiaries produce International(R)brand commercial and military trucks, MaxxForce(R) brand dieselengines, IC Bus(TM) brand school and commercial buses, Monaco RVbrands of recreational vehicles, and Workhorse(R) brand chassisfor motor homes and step vans. It also is a private-labeldesigner and manufacturer of diesel engines for the pickup truck,van and SUV markets. The Company also provides truck and dieselengine parts and service. Another affiliate offers financingservices.

Navistar International reported a net loss attributable to theCompany of $619 million for the year ended Oct. 31, 2014, comparedto a net loss attributable to the Company of $898 million for theyear ended Oct. 31, 2013.

* * *

In the Oct. 9, 2013, edition of the TCR, Moody's Investors Serviceaffirmed the ratings of Navistar International Corp., including the'B3' corporate family rating. The ratings reflect Moody'sexpectation that Navistar's successful incorporation of Cumminsengines throughout its product line up will enable the company toregain lost market share, and that progress in addressing componentfailures in 2010 vintage-engines will significantly reduce warrantyexpenses.

In January 2013, Fitch Ratings affirmed the issuer default ratingsfor Navistar International at 'CCC' and removed the negativeoutlook on the ratings. The removal reflects Fitch's view thatimmediate concerns about liquidity have lessened, althoughliquidity remains an important rating consideration as NAVimplements its selective catalytic reduction engine strategy.

NEW YORK MILITARY: Town Wants Access to Sale Documents------------------------------------------------------The Town of Cornwall asks the United States Bankruptcy Court forthe Southern District of New York, Poughkeepsie Division, to compelthe New York Military Academy to grant the Town access to all duediligence documents pertaining to the sale of the Debtor's assets.

Sara C. Temes, Esq., at Bond, Schoeneck & King PLLC, in Syracuse,New York, relates that throughout the Chapter 11 case, the Town hasparticipated and indicated its interest in the purchase of theDebtor's real property assets. At a hearing before the Court onJune 1, 2015, the Debtor has represented that it had established amarketing process and had compiled due diligence materials for theprospective purchase of the Debtor's assets and had severalinterested parties.

The Town asserts that the proposed plan and the lack of proceduresand marketing efforts do not appear to provide potential purchasersaccess to information necessary to analyze the Debtor's assets toobtain the highest value for all parties in interest in this case.

New York Military Academy, a private coeducational boarding school,filed a Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No.15-35379) on March 3, 2015. David B. Fields signed the petition asfirst vice-president. The Debtor reported total assets of $10.5million and total debts of $10.9 million.

The restaurant said in its court filing that more than $1.1 millionis owed to multiple creditors, including the IRS and the DuvalCounty Tax Collector.

Rudy Theale, the restaurant's owner, said that he's working to sellthe restaurant and continue to build on its brand, First Coastrelates. According to the report, Mr. Theale said that theshooting during a summer event in the restaurant in June 2014 thatled to the death of Zachariah Tipton, along with other issues, lefthim with little choice. The report quoted Mr. Theale as saying,"After that it was very shaky for me for 90 days which I think issort of expected . . . . There were a couple of months of downsales as you would imagine from an event like that, which put me inposition where I had to take on additional debt. It just got to apoint where it needed to be restructured."

Type of Business: The Debtor's sole business is defending and, where appropriate, settling asbestos claims through the use of insurance proceeds. The Debtor has not manufactured boilers since 1988 when it sold its Kewanee boiler business in a section 363 sale to Coppus Engineering Corporation. In early 2009, the Debtor sold all of its remaining assets.

Chapter 11 Petition Date: August 7, 2015

Court: United States Bankruptcy Court Northern District of Illinois (Chicago)

OAKFABCO INC: Files for Chapter 11 to Resolve Asbestos Claims-------------------------------------------------------------Oakfabco, Inc., formerly known as Kewanee Boiler Corporation, hassought bankruptcy protection to address asbestos claims, more than25 years since selling its boilers business to Coppus EngineeringCorporation in a bankruptcy sale.

On Oct. 28, 1986, Kewanee filed a voluntary petition for reliefunder chapter 11 of the Bankruptcy Code for the purpose of dealingwith ongoing losses associated with the boiler business. Duringthe bankruptcy case, Kewanee sold its boiler manufacturing assetsto Coppus Engineering Corporation and was renamed Oakfabco, Inc. InMarch 1988, the Court confirmed Oakfabco's second amended chapter11 plan of reorganization. The Debtor did not take steps inconnection with its 1986 bankruptcy case to limit its liability tofuture tort claimants as the main reason for the 1986 filing was todeal with ongoing losses associated with the boiler business.

Because no provision for future tort claims was made in the 1988Plan, and as a consequence of the Court's decision in Smith,claimants have continued to file claims against the Debtor sinceconfirmation of the 1988 Plan. Such claimants seek money damagesfor personal injury and wrongful death alleged as a result ofexposure to asbestos-containing products allegedly manufactured orsold by the Debtor or a predecessor in interest.

At present, the Debtor estimates that there are approximately 3,400active Asbestos Claims and over 30,000 inactive Asbestos Claimsoutstanding against the Debtor.

The Debtor is the policyholder under various insurance policiesthat provide coverage for Asbestos Claims. Among the issuers ofsuch insurance are: (i) First State Insurance Company, New EnglandReinsurance Company, and Twin City Fire Insurance Company; (ii)Affiliated FM Insurance Company; and (iii) American CasualtyCompany, Continental Casualty Company and Columbia CasualtyCompany. Hartford, Affiliated FM, and CNA are referred tohereinafter collectively as the "Settling Insurers." For severalyears, resolution of the Asbestos Claims has been handledexclusively by the Settling Insurers, pursuant to a 2010Cost-Sharing Agreement.

After years of covering the Debtor's defense and indemnity costsrelating to the Asbestos Claims, it is anticipated that theDebtor's coverage for defense costs, if not exhausted already, willbe soon exhausted. As such, only those plaintiffs who rush tojudgment likely will be compensated. As a result, in consultationwith its counsel, the Debtor determined that it is in the bestinterests of the Debtor and its asbestos-related creditors for theDebtor to attempt to monetize its remaining insurance and commencethe Chapter 11 case to effect a fair and efficient distribution tothose creditors.

To that end, the Debtor conducted negotiations with the SettlingInsurers prior to filing the Chapter 11 case. Those negotiationsresulted in settlement agreements that monetize the policies issuedby the Settling Insurers in the amount of $17,333,079, with$4,550,000 from Affiliated FM, $3,000,000 from Hartford, and$9,783,079 from CNA. The Debtor has documented and executedsettlements with Affiliated FM and Hartford. The Debtor reached anagreement with CNA. Documentation of that settlement is in processas of the filing of the Chapter 11 case.

A portion of the proceeds of the settlement with the SettlingInsurers will be used to fund the Chapter 11 case. Prior to thePetition Date, the Settling Insurer's each provided, for thebenefit of the Debtor, an advance payment of $50,000, aggregating$150,000, to Reed Smith LLP, for professional servicers to berendered and expenses to be incurred by Reed Smith for services tobe provided to the Debtor in connection the preparation for thecommencement of these proceedings. Additionally, prior to theChapter 11 filing, Hartford and Affiliated FM made subsequentpayments of $450,000 and $675,000, respectively, in connection withtheir obligations under their settlement agreements. All such sumsprovided by the Settling Insurers (which aggregate $1,275,000) weredeposited in Reed Smith's client trust account. Reed Smith set-offthe amount of its fees and expenses incurred to the date of thisChapter 11 filing against the balance in its trust account and hasagreed to transfer the remaining balance to a debtor-in-possessionaccount that will be used to fund the costs of administering theChapter 11 case. It is intended that funds remaining in thedebtor-in-possession account after payment of administrativeexpenses of the Chapter 11 case will be transferred, together withother insurance settlement payments, to the liquidating trust topay Asbestos Claims.

A copy of Frederick Stein's declaration in support of the Chapter11 petition and first day pleadings is available for free at:

Oakfabco, Inc, formerly known as Kewanee Boiler Corporation, hasnot manufactured boilers since 1988 when it sold its Kewanee boilerbusiness in an 11 U.S.C. Section 363 sale to Coppus EngineeringCorporation. In early 2009, it sold all of its remaining assets. The Debtor has no employees, and, Frederick W. Stein is theDebtor's sole officer and director. The Debtor's sole remainingasset is its insurance, and it has no known liabilities other thanasbestos claims.

In January 1970, Kewanee Boiler Corp, then a newly-formed IllinoisCorporation, acquired the assets and debt of American Standard,Inc.'s commercial boiler manufacturing division known as "KewaneeBoiler." The boilers manufactured and sold by Kewanee Boiler wereinsulated with asbestos.

OAKFABCO INC: Wants Until September to File Schedules-----------------------------------------------------Oakfabco, Inc., is asking the U.S. Bankruptcy Court for theNorthern District of Illinois to extend by 30 days, for a total of44 days after the Petition Date, the deadline to file its schedulesof assets and liabilities and statement of financial affairs.

Stephen T. Bobo, Esq., at Reed Smith LLP, submits that "cause"exists to grant an extension. The Debtor has no employees and onlyone officer and director. The Debtor's sole officer and director,who has been busily engaged preparing for this Chapter 11 Case,requires additional time to compile the necessary information tocomplete the Schedules and the Statement.

Because focusing the attention of the Debtor's sole officer anddirector on negotiating insurance settlement agreements, a chapter11 plan of liquidation, and Chapter 11 compliance issues during theearly days of the Chapter 11 Case will facilitate the Debtor'ssmooth transition into chapter 11 and an efficient resolution ofasbestos claims, the Debtor believes that its request for a 30-dayextension of time to file its Schedules and Statement will maximizethe value of its estate for the benefit of all parties ininterest.

About Oakfabco, Inc.

Oakfabco, Inc, formerly known as Kewanee Boiler Corporation, hasnot manufactured boilers since 1988 when it sold its Kewanee boilerbusiness in an 11 U.S.C. Section 363 sale to Coppus EngineeringCorporation. In early 2009, it sold all of its remaining assets. The Debtor has no employees, and, Frederick W. Stein is theDebtor's sole officer and director. The Debtor's sole remainingasset is its insurance, and it has no known liabilities other thanasbestos claims.

In January 1970, Kewanee Boiler Corp, then a newly-formed IllinoisCorporation, acquired the assets and debt of American Standard,Inc.'s commercial boiler manufacturing division known as "KewaneeBoiler." The boilers manufactured and sold by Kewanee Boiler wereinsulated with asbestos.

ONE SOURCE: Caterpillar Fin'l Seeks Additional Adequate Protection------------------------------------------------------------------Caterpillar Financial Services Corporation asks the United StatesBankruptcy Court for Northern District of Texas, Fort WorthDivision, to direct One Source Industrial Holdings, LLC, and OneSource Industrial LLC, to make additional adequate protectionpayments for the continued use of certain equipment.

Caterpillar asks that, as a condition for the Debtors' continueduse of the equipment, the Debtors will make adequate protectionpayments to Caterpillar and maintain in effect "full coverage"insurance protection, including both liability insurance andcasualty insurance, for the Caterpillar, in an amount of at least$1,000,000, with Caterpillar named as an additional loss payee asits interests may appear in the equipment, and may furnish proof ofthe insurance to Caterpillar.

The Debtors and Caterpillar stipulated that if the automatic stayterminates as to Caterpillar Financial, the automatic stay willterminate as to Midland County Appraisal District, Andrews CountyTax Office, Andrews Independent School District, Ector CountyAppraisal District, Reeves County and Reeves County AppraisalDistrict (the "Taxing Authorities"), to the extent they assert atax lien in the Equipment, at the same time. Caterpillar agreesthat it will file a Notice of Termination of the Automatic Staywith the Court should the Debtors default under the terms of thisAgreed Order. Caterpillar Financial further agrees to notify theTaxing Authorities not less than ten days prior to the sale of anyof the Caterpillar Financial Equipment, should that occur,including the date, time and location of the sale.

The Debtor disclosed $12,036,897 in assets and $15,890,063 inliabilities as of the Chapter 11 filing.

The U.S. Trustee appointed five creditors to serve on the officialcommittee of unsecured creditors.

OVERSEAS SHIPHOLDING: Investors Settle Lawsuit with Execs, Others-----------------------------------------------------------------Nate Raymond, writing for Reuters, reported that OverseasShipholding Group Inc. investors have reached $16.25 million insettlements with the executives, underwriters and an auditor of thetanker company in a lawsuit related to its 2012 bankruptcy and taxproblems.

The Troubled Company Reporter, on Aug. 14, 2014, reported thatMoody's Investors Service assigned Caa1 ratings to the unsecurednotes of Overseas Shipholding Group, Inc. ("OSG") that are beingreinstated pursuant to its plan of reorganization which becomeseffective. Moody's also affirmed the B2 Corporate Family Ratingandall of the other debt ratings it assigned to OSG on June 12,2014 in anticipation of the conclusion of the Chapter 11reorganization. The rating outlook is stable.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,and, on Dec. 18, 2013, won approval of its bankruptcy-exit planfrom the U.S. Bankruptcy Court for the Eastern District ofMissouri. The plan turned over most of the ownership of thecompany to bondholders that include New York hedge fund KnightheadCapital Management LLC. The linchpins of the plan were a globalsettlement among the Debtors, the United Mine Workers of America,and two third parties -- Peabody Energy Corporation and Arch Coal,Inc. -- and a commitment by a consortium of creditors, led byKnighthead, to backstop two rights offerings that funded the plan.

The U.S. trustee overseeing the Chapter 11 case of Patriot Coalappointed seven creditors of the company to serve on the officialcommittee of unsecured creditors.

On June 22, 2015, Joseph Bean, Patriot Coal's seniorvice-president, was designated by the court to perform the dutiesimposed upon the company by the Bankruptcy Code. This designationwill remain in effect during the entire pendency of Patriot Coal'scase until altered by order of the court.

Patriot Coal Corporation is a producer and marketer of coal in theUnited States. Patriot and its subsidiaries control 1.4 billiontons of proven and probable coal reserves -- including owned andleased assets in the Central Appalachia basin (in West Virginiaand Ohio) and Southern Illinois basin (in Kentucky and Illinois)and their operations consist of eight active mining complexes inWest Virginia.

Patriot Coal first sought Chapter 11 protection on July 9, 2012,and, on Dec. 18, 2013, won approval of its bankruptcy-exit planfrom the U.S. Bankruptcy Court for the Eastern District ofMissouri. The plan turned over most of the ownership of thecompany to bondholders that include New York hedge fund KnightheadCapital Management LLC. The linchpins of the plan were a globalsettlement among the Debtors, the United Mine Workers of America,and two third parties -- Peabody Energy Corporation and Arch Coal,Inc. -- and a commitment by a consortium of creditors, led byKnighthead, to backstop two rights offerings that funded the plan.

The U.S. trustee overseeing the Chapter 11 case of Patriot CoalCorp. appointed seven creditors of the company to serve on theofficial committee of unsecured creditors.

Patriot Coal estimated more than $1 billion in assets and debt.

PLUG POWER: Posts $9.2 Million Net Loss for Second Quarter----------------------------------------------------------Plug Power, Inc. filed with the Securities and Exchange Commissionits quarterly report on Form 10-Q disclosing a net lossattributable to common stockholders of $9.2 million on $24 millionof total revenue for the three months ended June 30, 2015, comparedto net income attributable to common shareholders of $3.8 millionon $17.3 million of total revenue for the same period during theprior year.

For the six months ended June 30, 2015, the Company reported a netloss attributable to common stockholders of $20.3 million on $33.4million of total revenue compared to a net loss attributable tocommon stockholders of $72 million on $22.8 million of totalrevenue for the same period during the prior year.

As of June 30, 2015, Plug Power had $182.9 million in total assets,$40.2 million in total liabilities, $1.1 million in redeemablepreferred stock and $141.5 million in total stockholders' equity.

"Plug Power is experiencing continual revenue and gross marginexpansion," says Plug Power CEO Andy Marsh. "We expect the thirdquarter to be even better than Q2 2015, with revenues of over $30million."

Cash and Liquidity

Net cash used in operating activities for the second quarter 2015was $10.6 million which stems from the ongoing investment in theCompany's increased commercial activity, as well as incrementalinvestment in working capital given the inventory build activityfor third quarter programs. Plug Power had cash and cashequivalents of $109.1 million and net working capital of $135.8million at June 30, 2015.

Bankruptcy Warning

"Our cash requirements relate primarily to working capital neededto operate and grow our business, including funding operatingexpenses, growth in inventory to support both shipments of newunits and servicing the installed base, funding the growth in ourGenKey "turn-key" solution which also includes the installation ofour customer's hydrogen infrastructure as well as delivery of thehydrogen molecule, and continued development and expansion of ourproducts. Our ability to achieve profitability and meet futureliquidity needs and capital requirements will depend upon numerousfactors, including the timing and quantity of product orders andshipments; attaining positive gross margins; the timing and amountof our operating expenses; the timing and costs of working capitalneeds; the timing and costs of building a sales base; the abilityof our customers to obtain financing to support commercialtransactions; our ability to obtain financing arrangements tosupport the sale or leasing of our products and services tocustomers; the timing and costs of developing marketing anddistribution channels; the timing and costs of product servicerequirements; the timing and costs of hiring and training productstaff; the extent to which our products gain market acceptance; thetiming and costs of product development and introductions; theextent of our ongoing and new research and development programs;and changes in our strategy or our planned activities. If we areunable to fund our operations with positive cash flows and cannotobtain external financing, we may not be able to sustain futureoperations. As a result, we may be required to delay, reduceand/or cease our operations and/or seek bankruptcy protection," theCompany said in the report.

Plug Power Inc. is a provider of alternative energy technologyfocused on the design, development, commercialization andmanufacture of fuel cell systems for the industrial off-road(forklift or material handling) market.

Plug Power reported a net loss attributable to common shareholdersof $88.6 million on $64.2 million of total revenue for the yearended Dec. 31, 2014, compared to a net loss attributable to commonshareholders of $62.8 million on $26.6 million of total revenue forthe year ended Dec. 31, 2013.

PMC MARKETING: San Sebastian's Bid to Dismiss Clawback Suit Granted-------------------------------------------------------------------Judge Brian K. Tester of the United States Bankruptcy Court for theDistrict of Puerto Rico granted the Municipality of San Sebastian'smotion to dismiss a complaint filed by Noreen Wiscovitch Rentas, asChapter 7 Trustee for PMC Marketing Corp.

The Chapter 7 Trustee filed the complaint to recover moniespursuant to Section 547 of the Bankruptcy Code. The complaintalleged that the Debtor was insolvent at the time of the allegedtransfer and that said transfer was made within 90 days of March18, 2009, the date of filing of the Debtor's voluntary chapter 11bankruptcy petition.

The defendant filed a Motion to Dismiss. It argued that thecomplaint alleged that the debtor was insolvent at the time of thealleged transfer and that said transfer was made within 90 days ofMarch 18, 2009, the date of filing of the debtor's voluntarychapter 11 bankruptcy petition, but the Trustee provided no factsto form the basis of her allegations. The defendant contended thatno information was provided as to the debtor's economic conditionsprior to the order for relief, nor are any dates given as to whenthe alleged transfers took place.

Judge Tester held that the complaint does not state a claim uponwhich relief can be granted. The judge explained that while thecomplaint recites the statutory language of Section 547 andincorporates that "Debtor made a transfer of funds which were partof its property to the herein Defendant, a creditor of the Debtor. The transfer of funds was for the amount of $9,157.51." thecomplaint contains no information as to the form of payment or thedates such payments were made.

A copy of the Judge Tester's July 27, 2015 opinion and order isavailable at http://is.gd/LU5ro7at Leagle.com.

PMC Marketing Corp. filed a Chapter 11 bankruptcy petition (Bankr.D.P.R. Case No. 09-02048) on March 18, 2009. The case wasconverted into a Chapter 7 proceeding on May 19, 2010. On May 20,2010, Noreen Wiscovitch-Rentas was appointed the Chapter 7 trustee.

QUALITY DISTRIBUTION: Reports $2.1 Million Net Income for Q2------------------------------------------------------------Quality Distribution, Inc. filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing net incomeof $2.1 million on $227 million of total operating revenues for thethree months ended June 30, 2015, compared to net income of $11.3million on $256 million of total operating revenues for the sameperiod during the prior year.

For the six months ended June 30, 2015, the Company reported netincome of $4.7 million on $457 million of total operating revenuescompared to net income of $14.4 million on $490 million of totaloperating revenues for the same period a year ago.

As of June 30, 2015, the Company had $413 million in total assets,$436 million in total liabilities and a $22.9 million totalshareholders' deficit.

"We have substantial indebtedness and may not be able to makerequired payments on our indebtedness.

We had consolidated indebtedness and capital lease obligations,including current maturities of $351.3 million, as of December 31,2014. We must make regular payments under the ABL Facility,including the Term Loan, thereunder, and our capital leases andsemi-annual interest payments under our 2018 Notes.

The ABL will mature at the earlier of November 2019 and the datethat is 91 days prior to the maturity of the Company's currentlyoutstanding 2018 Notes or any replacement notes if the outstandingamount of such debt is above a certain threshold. The Term Loanmatures on November 3, 2017 but we are subject to mandatoryprepayment of the principal amount of the Term Loan in equalquarterly payments beginning as early as November 2015. Thematurity date of the ABL Facility, including the Term Loan, may beaccelerated if we default on our obligations. If the maturity ofthe ABL Facility and/or such other debt is accelerated, we may nothave sufficient cash on hand to repay the ABL Facility and/or suchother debt or be able to refinance the ABL Facility and/or suchother debt on acceptable terms, or at all. The failure to repayor refinance the ABL Facility and/or such other debt at maturitywould have a material adverse effect on our business and financialcondition, would cause substantial liquidity problems and mayresult in the bankruptcy of us and/or our subsidiaries. Any actualor potential bankruptcy or liquidity crisis may materially harm ourrelationships with our customers, suppliers and independentaffiliates," the Company states in its 2014 annual report.

* * *

As reported in the TCR on June 28, 2013, Moody's Investors Serviceupgraded Quality Distribution, LLC's Corporate Family Rating to'B2' from 'B3' and Probability of Default Rating to 'B2-PD' from'B3-PD'.

The upgrade of Quality's CFR to 'B2' was largely driven by theexpectation that credit metrics will improve over the next twelveto eighteen months, through a combination of EBITDA growth anddebt paydowns, to levels consistent with the 'B2' rating level.The company is in the process of integrating the bolt-onacquisitions made in its Energy Logistics business sector since2011.

As reported by the TCR on July 17, 2015, Standard & Poor's RatingsServices said that it has lowered its corporate credit rating onTampa-based transportation and logistics provider QualityDistribution Inc. to 'B-' from 'B' and removed the ratings fromCreditWatch, where S&P had placed them with negative implicationson May 8, 2015. "The downgrade reflects Quality Distribution'shigher debt-leverage pro forma for its acquisition by ApaxPartners," said Standard & Poor's credit analyst Michael Durand.

QUANTUM CORP: Posts $10.7 Million Net Loss for First Quarter------------------------------------------------------------Quantum Corporation filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net lossof $10.7 million on $110.8 million of total revenue for the threemonths ended June 30, 2015, compared to a net loss of $4.3 millionon $128.1 million of total revenue for the same period last year.

As of June 30, 2015, the Company had $314.6 million in totalassets, $382.6 million in total liabilities and a $67.9 milliontotal stockholders' deficit.

As of June 30, 2015, the Company had $53.7 million of cash and cashequivalents, which is comprised of money market funds and cashdeposits.

"We continue to focus on improving our operating performance,including efforts to increase revenue and to continue to controlcosts in order to improve margins, return to consistentprofitability and generate positive cash flows from operatingactivities. We believe that our existing cash and capitalresources will be sufficient to meet all currently plannedexpenditures, debt service and contractual obligations and tosustain operations for at least the next 12 months. This belief isdependent upon our ability to achieve gross margin projections andto control operating expenses in order to provide positive cashflow from operating activities. Should we be unable to meet ourgross margin or expense objectives, it would likely have a materialnegative effect on our cash balances and capital resources."

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --http://www.quantum.com/-- is a storage company specializing in backup, recovery and archive. Quantum provides a comprehensive,integrated range of disk, tape, and software solutions supportedby a world-class sales and service organization.

Quantum reported net income of $16.7 million on $553 million oftotal revenue for the year ended March 31, 2015, compared to a netloss of $21.5 million on $553 million of total revenue for the yearended March 31, 2014.

QUICKSILVER RESOURCES: Bankruptcy Filing in Delaware Irks Judge---------------------------------------------------------------U.S. Bankruptcy Judge Russell F. Nelms criticized QuicksilverResources Inc., et al., for filing for Chapter 11 bankruptcyprotection in the Delaware court rather than in a hometown court,even though the Company is based less than a mile from hiscourtroom on West 10th Street, Max B. Baker at Star-Telegramreports.

Judge Nelms said in an Aug. 3, 2015 opinion that "although one ofthe goals of bankruptcy is to facilitate creditor participation,many debtors now file for bankruptcy in locations that are certainto minimize it. Various excuses are given for these remotefilings. Few are convincing . . . . Some are filed with a goal ofprecluding easy access to the court by small creditors, especiallyif those creditors are soon-to-be former employees."

About Quicksilver

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration andproduction company engaged in the development and production oflong-lived natural gas and oil properties onshore North America.Based in Fort Worth, Texas, the company claims to be a leader inthe development and production from unconventional reservoirsincluding shale gas, and coal bed methane. Following more than 30years of operating as a private company, Quicksilver became publicin 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,Montana. The Company's Canadian subsidiary, Quicksilver ResourcesCanada Inc., is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of itsaffiliates filed voluntary petitions for relief under Chapter 11 oftitle 11 of the United States Code in Delaware. The Debtors areseeking joint administration under the main case, In re QuicksilverResources Inc. Case No. 15-10585. Quicksilver's Canadiansubsidiaries were not included in the chapter 11 filing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld LLPin the U.S. and Bennett Jones in Canada. Richards Layton &Finger, P.A., is legal co-counsel in the Chapter 11 cases. Houlihan Lokey Capital, Inc. is serving as financial advisor. Garden City Group Inc. is the claims and noticing agent.

The U.S. Trustee for Region 3 appointed five creditors ofQuicksilver Resources Inc. to serve on the official committee ofunsecured creditors.

* * *

The Debtors have been given exclusive right to file a bankruptcyplan through Oct. 13, 2015.

RADIOSHACK CORP: Bankruptcy Filing in Delaware Irks Judge---------------------------------------------------------U.S. Bankruptcy Judge Russell F. Nelms criticized RadioShackCorporation for filing for Chapter 11 bankruptcy protection in theDelaware court rather than in a hometown court, even though theCompany is based less than a mile from his courtroom on West 10thStreet, Max B. Baker at Star-Telegram reports.

Judge Nelms said in an Aug. 3, 2015 opinion that "although one ofthe goals of bankruptcy is to facilitate creditor participation,many debtors now file for bankruptcy in locations that are certainto minimize it. Various excuses are given for these remotefilings. Few are convincing . . . . Some are filed with a goal ofprecluding easy access to the court by small creditors, especiallyif those creditors are soon-to-be former employees . . . . Noemployee at RadioShack's corporate headquarters took off from workearly and walked the few short blocks to this court to observe anyproceedings in that bankruptcy case. And that's a shame, notnecessarily because the result would have been different, butbecause that employee might have felt a little better about theresult and the system after seeing the sausage being made."

About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack (OTCMKTS: RSHCQ) --http://www.radioshackcorporation.com-- is a retailer of mobile technology products and services, as well as productsrelated to personal and home technology and power supplyneeds. RadioShack's retail network includes more than 4,300company-operated stores in the United States, 270 company-operatedstores in Mexico, and approximately 1,000 dealer and other outletsworldwide.

SABINE OIL: Has Authority to Hire Prime Clerk as Claims Agent-------------------------------------------------------------Judge Shelley C. Chapman of the U.S. Bankruptcy Court for theSouthern District of New York authorized Sabine Oil & GasCorporation, et al., to employ Prime Clerk LLC as claims andnoticing agent.

Prime Clerk will perform, among other things, the following tasks:

(a) prepare and serve required notices and documents in these Chapter 11 cases in accordance with the Bankruptcy Code and the Bankruptcy Rules in the form and manner directed by the Debtors and/or the Court, including (i) notice of the commencement of these chapter 11 cases and the initial meeting of creditors under section 341(a) of the Bankruptcy Code, (ii) notice of any claims bar date, (iii) notices of transfers of claims, (iv) notices of objections to claims and objections to transfers of claims, (v) notices of any hearings on a disclosure statement or confirmation of the Debtors' plan or plans of reorganization, including under Bankruptcy Rule 3017(d), (vi) notice of the effective date of any plan, and (vii) all other notices, orders, pleadings, publications, and other documents as the Debtors or the Court may deem necessary or appropriate for an orderly administration of these chapter 11 cases;

(b) maintain an official copy of the Debtors' schedules of assets and liabilities and statements of financial affairs, listing the Debtors' known creditors and the amounts owed thereto, if the requirement to file such Schedules is not waived by the Court;

(c) maintain (i) a list of all potential creditors, equity holders, and other parties in interest and (ii) a "core" mailing list consisting of all parties described in Bankruptcy Rule 2002(i), (j), and (k) and those parties that have filed a notice of appearance pursuant to Bankruptcy Rule 9010; update and make said lists available upon request by a party in interest or the Clerk's Office;

(d) if necessary, furnish a notice to all potential creditors of the last date for filing proofs of claim and a form for filing a proof of claim, after such notice and form are approved by the Court, and notify said potential creditors of the existence, amount, and classification of their respective claims as set forth in the Schedules, which may be effected by inclusion of such information (or the lack thereof, in cases where the Schedules indicate no debt due to the subject party) on a customized proof of claim form provided to potential creditors;

(e) maintain a post office box or address for the purpose of receiving claims and returned mail, and process all mail received;

(f) for all notices, motions, orders, or other pleadings or documents served, prepare and file or cause to be filed with the Clerk's Office an affidavit or certificate of service within seven business days of service which includes (i) either a copy of the notice served or the docket number(s) and title(s) of the pleading(s) served, (ii) a list of persons to whom it was mailed (in alphabetical order) with their addresses, (iii) the manner of service, and (iv) the date served;

(g) process all proofs of claim received, including those received by the Clerk's Office, check said processing for accuracy, and maintain the original proofs of claim in a secure area;

(h) (i) maintain the official claims register for each Debtor on behalf of the Clerk's Office; (ii) upon the Clerk's Office's request, provide the Clerk's Office with certified, duplicate unofficial Claims Registers; and (iii) specify in the Claims Registers the following information for each claim docketed: (A) the claim number assigned, (B) the date received, (C) the name and address of the claimant and agent, if applicable, who filed the claim, (D) the amount asserted, (E) the asserted classification(s) of the claim;

(i) implement necessary security measures to ensure the completeness and integrity of the Claims Registers and the safekeeping of the original claims;

(j) record all transfers of claims and provide any notices of such transfers as required by Bankruptcy Rule 3001(e);

(k) relocate, by messenger or overnight delivery, all of the court-filed proofs of claim to the offices of Prime Clerk, not less than weekly;

(l) upon completion of the docketing process for all claims received to date for each case, turn over to the Clerk's Office copies of the Claims Registers for the Clerk's Office's review;

(m) monitor the Court's docket for all notices of appearance, address changes, and claims-related pleadings and orders filed and make necessary notations on and/or changes to the Claims Registers and any service or mailing lists, including to identify and eliminate duplicative names and addresses from such lists;

(n) identify and correct any incomplete or incorrect addresses in any mailing or service lists;

(o) assist in the dissemination of information to the public and respond to requests for administrative information regarding these chapter 11 cases as directed by the Debtors or the Court, including through the use of a case website and/or call center;

(p) if these chapter 11 cases are converted to cases under chapter 7 of the Bankruptcy Code, contact the Clerk's Office within three days of notice to Prime Clerk of entry of the order converting these chapter 11 cases;

(q) thirty days prior to the close of these chapter 11 cases, to the extent practicable, request that the Debtors submit to the Court a proposed order dismissing Prime Clerk as the Debtors' Claims and Noticing Agent and terminating its services in such capacity upon completion of its duties and responsibilities and upon the closing of these chapter 11 cases;

(r) within seven days of notice to Prime Clerk of entry of an order closing these chapter 11 cases, provide to the Court the final version of the Claims Registers as of the date immediately before the close of these chapter 11 cases; and

(s) at the close of these chapter 11 cases, box and transport all original documents, in proper format, as provided by the Clerk's Office, to (i) the Federal Archives Record Administration, located at Central Plains Region, 200 Space Center Drive, Lee's Summit, Missouri 64064 or (ii) any other location requested by the Clerk's Office.

Prior to the Petition Date, the Debtors provided Prime Clerk aretainer in the amount of $50,000.

Prime Clerk charges the following rates for claim and noticingservices:

Sabine Oil & Gas Corp. is an independent energy company engaged inthe acquisition, production, exploration, and development ofonshore oil and natural gas properties in the U.S. The Company'scurrent operations are principally located in the Cotton ValleySand and Haynesville Shale in East Texas, the Eagle Ford Shale inSouth Texas, the Granite Wash in the Texas Panhandle, and theNorth Louisiana Haynesville. The Company operates, or has jointworking interests in, approximately 2,100 oil and gas productionsites (approximately 1,800 operating and approximately 315non-operating) and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11 protection(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on July 15,2015.

SABINE PASS: Amends Q2 Form 10-Q for Additional Disclosure----------------------------------------------------------Sabine Pass LNG, L.P. filed with the Securities and ExchangeCommission an amendment to its quarterly report on Form 10-Q forthe period ended June 30, 2015, to disclose recently providedinformation pursuant to Section 219 of the Iran Threat Reductionand Syria Human Rights Act of 2012.

Pursuant to Section 13(r) of the Securities Exchange Act of 1934,as amended, if during the quarter ended June 30, 2015, the Companyor any of its affiliates had engaged in certain transactions withIran or with persons or entities designated under certain executiveorders, the Company would be required to disclose informationregarding those transactions in its Quarterly Report on Form 10-Qas required under Section 219 of the Iran Threat Reduction andSyria Human Rights Act of 2012. During the quarter ended June 30,2015, the Company did not engage in any transactions with Iran orwith persons or entities related to Iran.

Blackstone CQP Holdco LP, an affiliate of The Blackstone GroupL.P., is a holder of approximately 29% of the outstanding equityinterests of Cheniere Energy Partners, L.P. and has threerepresentatives on the Board of Directors of Cheniere Partners'general partner. Accordingly, Blackstone Group may be deemed an"affiliate" of Cheniere Partners, as that term is defined inExchange Act Rule 12b-2. Blackstone Group has included in itsQuarterly Report on Form 10-Q for the quarterly period ended June 30, 2015, disclosures pursuant to ITRA regarding one of itsportfolio companies that may be deemed to be an affiliate ofBlackstone Group. Because of the broad definition of "affiliate"in Exchange Act Rule 12b-2, this portfolio company of BlackstoneGroup, through Blackstone Group's ownership of Cheniere Partners,may also be deemed to be an affiliate of ours.

Blackstone Group has reported that Travelport Limited has engagedin the following activities: as part of its global business in thetravel industry, Travelport provides certain passenger travelrelated Travel Commerce Platform and Technology Services to IranAir. Travelport also provides certain airline Technology Servicesto Iran Air Tours. The gross revenues and net profits attributableto those activities by Travelport during the quarter ended June 30,2015, were reported by Travelport to be approximately $145,000 and$104,000, respectively. Blackstone Group has reported thatTravelport intends to continue these business activities with IranAir and Iran Air Tours as those activities are either exempt fromapplicable sanctions prohibitions or specifically licensed by theOffice of Foreign Assets Control.

About Sabine Pass

Sabine Pass LNG, L.P. owns, develops and operates an LNG receivingand regasification terminal in western Cameron Parish, Louisiana.Based in Houston, the Company's LNG terminal includes existinginfrastructure of five LNG storage tanks with 16.9 Bcfe capacity,two docks that can hold vessels up to 265,000 cubic meters, andvaporizers with capacity of 4.0 Bcf/d.

As of June 30, 2015, Sabine Pass had $1.6 billion in total assets,$2.2 billion in total liabilities and a $584.7 million partners'deficit.

Sabine Pass reported net income of $63.7 million on $130.7 millionof total revenues for the three months ended June 30, 2015,compared to net income of $65.7 million on $131 million of totalrevenues for the same period during the prior year.

SCIENTIFIC GAMES: Incurs $102.2-Mil. Net Loss in Second Quarter---------------------------------------------------------------Scientific Games Corporation filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net loss of $102.2 million on $691.5 million of total revenue forthe three months ended June 30, 2015, compared to a net loss of$72.4 million on $416.9 million of total revenue for the sameperiod in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $188.6 million on $1.3 billion of total revenue compared toa net loss of $117.4 million on $805 million of total revenue forthe same period during the prior year.

As of June 30, 2015, the Company had $9.4 billion in total assets,$9.7 billion in total liabilities and a $260.1 million totalstockholders' deficit.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's RatingsServices lowered its corporate credit rating to 'B+' from 'BB-' onScientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'announcement that it has agreed to acquire Bally Technologies for$5.1 billion, including the refinancing of about $1.8 billion innet debt at Bally," said Standard & Poor's credit analyst ArielSilverberg.

SNOWFLAKE COMMUNITY: Files Bankruptcy Rule 2015.3 Report--------------------------------------------------------Snowflake Community Foundation filed a report with the U.S.Bankruptcy Court for the District of Arizona, disclosing that it isthe sole owner of The Apache Railway Company.

Apache Railway's income statement for the year ending Dec. 31,2014, showed a net income of $94,458 and total revenue of $1.59million.

As of Dec. 31, 2014, Apache Railway had total assets of $6.59million; total liabilities of $372,568 and total shareholders'equity of $6.22 million.

Apache Railway had $70,908 cash at the beginning of the year, and$135,570 cash at the end of the year, court filings show.

Apache Railway filed the report pursuant to Bankruptcy Rule 2015.3. The report dated June 22, 2015, is available for free athttp://is.gd/8KQTXO

SPIG INDUSTRY: Claims Bar Date Set for October 9------------------------------------------------The U.S. Bankruptcy Court for the Western District of Virginia setOct. 9, 2015, as deadline for creditors to file proofs of claimagainst Spig Industry LLC.

The Court will hold a status conference hearing on Nov. 5, 2015, at1:30 p.m. in the United States Bankruptcy Court located inAbingdon. Virginia.

About Spig Industry

Spig Industry, LLC, a Bristol, Virginia-based manufacturer of guardrails, filed a Chapter 11 bankruptcy petition (Bankr. W.D. Va.15-70310) in Roanoke, Virginia, on March 16, 2015, with $21.0million in assets against $11.7 million in debt.

The U.S. Trustee has named an Official Committee of UnsecuredCreditors in the case.

SPRINGLEAF HOLDINGS: Moody's Continues to Review 'B2' CFR---------------------------------------------------------Moody's Investors Service continues its review for downgrade ofSpringleaf Holdings, Inc.'s and OneMain Financial Holdings, Inc.'sB2 corporate family ratings. The review was initiated on March3rd, following Springleaf's announcement that it will acquireOneMain.

RATINGS RATIONALE

Moody's is continuing its review of Springleaf's and OneMain's B2ratings to assess the effect of the planned acquisition on theirrespective credit profiles and expects to conclude the review uponthe acquisition close.

Springleaf does not expect the acquisition to close prior toSeptember 10th, as per the timing agreement with the Department ofJustice (DOJ), in order to provide the DOJ with sufficient time tocomplete its review of the acquisition from an antitrustperspective. Given that the DOJ and several Attorneys General haveexpressed antitrust concerns regarding two leading companies in thebranch-based non-prime consumer finance sector combining, thetransaction may be delayed beyond the end of the third quarter. Should the authorities object to the transaction in its currentform, the DOJ may require the companies to divest certain assets,which would reduce earnings of the combined entity.

Moody's review will include an assessment of the adequacy of thecombined entity's tangible capital position as well as its internalcapital generation capacity, given expected earnings and costs andtimelines associated with its integration efforts. In the eventthat the DOJ requires asset divestitures, Moody's will evaluate theimplications for earnings power relative to the proceeds to becollected from potential asset sales, the purchase price and thecompany's capitalization. In addition, Moody's is evaluating thedegree to which Springleaf's post-acquisition liquidity will beadequate to cover its immediate funding and operating requirementsand contingencies over the next twelve months.

Moody's is also reviewing the effect of the acquisition on therelative priority of Springleaf's and OneMain's debt, given thatSpringleaf and OneMain will be run as two separate entities forapproximately a year after the acquisition closes.

On a pro-forma basis, Springleaf's balance sheet leverage, measuredas Tangible Common Equity to Tangible Managed Assets, will weakenfrom 21% at June 30, 2015 to approximately 5% on a pro-forma basis. The diminished tangible equity buffer relative to the combinedtangible assets of the two companies weakens the company's capacityto absorb unexpected losses.

The company's ratings would be downgraded if Moody's concludes thatthe company will not be able to materially improve its capitalposition within the four quarters following the acquisition close. The ratings would also be downgraded if the company does notmaintain sufficient liquidity to accommodate the heightenedliquidity risk stemming from a large acquisition that might requireadditional unforeseen expenses, as well as to cover any potentialcontingent liabilities.

Ratings could be confirmed if Moody's concludes that Springleaf isable to substantially de-lever within the four quarters followingthe acquisition close, and if it builds a sufficient liquiditybuffer commensurate with the heightened liquidity risk stemmingfrom a large acquisition and potentially sizeable contingentliabilities. The ratings of OneMain could be confirmed if itsoperating performance and capital position are maintained, and itsliquidity position continues to strengthen.

The principal methodology used in these ratings/analysis wasFinance Company Global Rating Methodology published in March 2012.

STANDARD REGISTER: Changes Corporate Name After Sale----------------------------------------------------The Standard Register Company, et al., requested that the U.S.Bankruptcy Court for the District of Delaware approve the change of(i) their corporate names; and case caption used in these chapter11 cases.

The changes will reflect:

Old Company Name New Company Name ---------------- ----------------The Standard Register Company SRC Liquidation CompanyStandard Register Holding Company SR Liquidation Holding CompanyStandard Register Technologies, SR Liquidation Technologies,

As reported in the Troubled Company Reporter on July 30, 2015, theDebtor said in court documents that the sale of its assets toTaylor Corp. is expected to close by July 31.

The Company filed a motion with to change its corporate andbusiness names, as required under the asset purchase agreementbetween Standard Register and Taylor Corp., to become SRCLiquidation Co.

According to Dave Larsen at Dayton Daily News, a hearing on thename change is set for Aug. 18, 2015.

Dayton Daily related that the Court extended, at the behest of theCompany, the 120-day period for the Company to file a plan by anadditional 90 days to Oct. 8, 2015, from the July 10, 2015. Thereport added that the Court extended Company's period to solicitacceptance of the plan to Dec. 7, 2015, from Sept. 8, 2015.

About Standard Register

Standard Register provides market-specific insights and acompelling portfolio of workflow, content and analytics solutionsto address the changing business landscape in healthcare,financialservices, manufacturing and retail markets. The Company hasoperations in all U.S. states and Puerto Rico, and currentlyemploys 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors soughtChapter 11 protection in Delaware on March 12, 2015, with plans tolaunch a sale process where its largest secured lender would serveas stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L.Shannon and are jointly administered under Case No. 15-10541.

The Official Committee of Unsecured Creditors tapped LowensteinSandler LLP as its counsel and Jefferies LLC as its exclusiveinvestment banker.

STANDARD REGISTER: Taylor Completes Acquisition of Assets---------------------------------------------------------Taylor Corp., one of the U.S.'s largest privately held companies,on Aug. 3 disclosed that it completed its acquisition of the assetsof Standard Register. The combined company has more than 12,000employees working in more than 80 companies with operations in 32states and nine countries.

"The successful close officially turns the page for StandardRegister's customers and employees and moves us into a new chapterthat we believe is strengthened as a combined organization," saidDeb Taylor, chief executive officer of Taylor Corp. "Movingforward together, we have an even broader range of communicationsservices, products and technologies, and an experienced teamdedicated to providing the highest quality customer service in theindustry. As we integrate the two companies, we are finding evenmore ways to provide value to our customers."

Taylor Corp. was the successful bidder for Standard Registerthrough a bankruptcy auction held June 19, 2015. StandardRegister's Chapter 11 case will conclude when all claims aresettled.

About Taylor Corp.

Leveraging the diverse capabilities of its more than 80 companiesaround the world, Taylor Corporation -- http://www.taylorcorp.com-- one of the largest privately held companies in the U.S., helpsmillions of consumers celebrate events and milestones and enablesbusinesses -- including more than half of the Fortune 500 -- toexpress their brands and differentiate themselves in themarketplace. Headquartered in North Mankato, Minn., Taylor Corp.owns world-class companies in the U.S., Canada, Mexico, the UnitedKingdom, France, India, China, Bulgaria and the Philippines.

About Standard Register

Standard Register provides market-specific insights and acompelling portfolio of workflow, content and analytics solutionsto address the changing business landscape in healthcare, financialservices, manufacturing and retail markets. The Company hasoperations in all U.S. states and Puerto Rico, and currentlyemploys 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors soughtChapter 11 protection in Delaware on March 12, 2015, with plans tolaunch a sale process where its largest secured lender would serveas stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L. Shannonand are jointly administered under Case No. 15-10541.

The Official Committee of Unsecured Creditors tapped LowensteinSandler LLP as its counsel and Jefferies LLC as its exclusiveinvestment banker.

STEREOTAXIS INC: Incurs $1.5 Million Net Loss in Second Quarter---------------------------------------------------------------Stereotaxis, Inc., filed with the Securities and ExchangeCommission its quarterly report on Form 10-Q disclosing a net lossof $1.5 million on $9.6 million of total revenue for the threemonths ended June 30, 2015, compared to a net loss of $1.9 millionon $8 million of total revenue for the same period in 2014.

For the six months ended June 30, 2015, the Company reported a netloss of $4.6 million on $19.2 million of total revenue compared toa net loss of $6.1 million on $16.4 million of total revenue forthe same period during the prior year.

As of June 30, 2015, the Company had $19.9 million in total assets,$35.8 million in total liabilities and a $15.9 million in totalstockholders' deficit.

Based in St. Louis, Missouri, Stereotaxis, Inc., is a manufacturerand developer of a suite of navigation systems in interventionalsurgical procedures. The Company's Epoch Solution is used in thetreatment of arrhythmias and coronary artery disease.

Stereotaxis reported a net loss of $5.20 million in 2014, a netloss of $68.8 million in 2013 and a net loss of $9.23 million in2012.

Ernst & Young LLP, in St. Louis, Missouri, issued a "going concern"qualification on the consolidated financial statements for the yearended Dec. 31, 2014, citing that the Company has incurred recurringoperating losses and has a net capital deficiency. Theseconditions raise substantial doubt about the Company's ability tocontinue as a going concern.

SUN BANCORP: Reports $2.8 Million Net Income for Second Quarter---------------------------------------------------------------Sun Bancorp, Inc. filed with the Securities and Exchange Commissionits quarterly report on Form 10-Q disclosing net income available to common shareholders of $2.8 million on$17.8 million of total interest income for the three months endedJune 30, 2015, compared to a net loss available to commonshareholders of $24.2 million on $23.7 million of total interestincome for the same period during the prior year.

For the six months ended June 30, 2015, the Company reported netincome available to common shareholders of $5.6 million on $35.4million of total interest income compared to a net loss availableto common shareholders of $26.1 million on $48.4 million of totalinterest income for the same period a year ago.

As of June 30, 2015, the Company had $2.3 billion in total assets,$2.1 billion in total liabilities and $252.9 million in totalshareholders' equity.

Sun Bancorp, Inc.is a bank holding company headquartered in MountLaurel, New Jersey. Its primary subsidiary is Sun National Bank, acommunity bank serving customers throughout New Jersey. SunNational Bank -- http://www.sunnationalbank.com/-- is an Equal Housing Lender and its deposits are insured up to the legal maximumby the Federal Deposit Insurance Corporation (FDIC).

On April 15, 2010, Sun National Bank entered into a writtenagreement with the OCC which contained requirements to develop andimplement a profitability and capital plan which provides for themaintenance of adequate capital to support the Bank's risk profilein the current economic environment.

Sun Bancorp reported a net loss available to common shareholders of$29.8 million in 2014, a net loss available to common shareholdersof $9.94 million in 2013, and a net loss available to commonshareholders of $50.49 million in 2012.

The rating affirmation incorporates the result of TGO's IPO andbond offering, which were affected by unfavorable market conditionslast week. IPO proceeds were lower by $456 million and TGO had topay a 9.75% interest rate on the bonds as opposed to 7.25% assumedearlier. The shortfall in the IPO was largely covered by the useof $248 million of cash on hand, lower project debt pay-down of $85million, the use of shares in lieu of cash to pay $95 million toBrazilian development partner Renova for certain assets purchasedas part of the initial IPO portfolio . Fees and expenses were alsolower by $17 million.

There is no change in the composition of projects or their cashflows, although TGO's distributable cash flow is lower in 2016 by$34 million on account of the higher interest rate. Parent SunEdison Inc (SUNE, Not Rated) has agreed to cover debt service onthe higher project-level debt, although we exclude these paymentsin our ratio calculations. Overall, credit metrics are somewhatweaker but not materially so, allowing us to affirm ratings. Undera P90 "no growth" scenario, TGO's consolidated Debt/EBITDA andFFO/Debt for 2016 are expected to hover around 5.1x and 10%,respectively, compared to 4.9x and 11% at the time of the initialrating.

These developments highlight the capital markets sensitivity ofYieldCos in general. Most YieldCos saw substantial declines inequity prices over the past month, although no one else had largetransactions in the market like TGO and its affiliate TerraFormPower Operating LLC (TPO, Ba3/Positive). High dividend yields andcapital costs, if they become a new reality, will make it that muchmore difficult for the company to achieve its growth targets.Lenders may remain relatively insulated on account of the implicitfinancial cushion provided by large dividend payments, but only aslong as management sticks to a prudent financial policy and doesnot use leverage to increase dividend payments to shareholders.TGO's management has reiterated its commitment to a financialpolicy that targets leverage ratios of 5.0-5.5x on a consolidatedDebt/EBITDA basis.

The developments also further strengthen the importance of parentSUNE to TGO. Besides playing the all-important role of sponsorthat drop assets into the YieldCo, SUNE also provides a variety offinancial support -- (i) interest payment on the $810 million notesfor five years; (ii) debt service on $78 million of project-leveldebt at the Orosi project in Costa Rica; (iii) purchase of 2million Class A shares as part of the IPO for $30 million; and (iv)agreeing to defer dividends from TGO for six quarters (vs twooriginally) in order to add an additional $60 MM of liquidity toTGO.

TGO has a SGL-3 speculative grade liquidity rating, incorporatingour expectation for adequate liquidity for the next 12 months. TGOhas virtually zero cash on the balance sheet at present, as opposedto $250 million expected at the time of the initial rating. Accessto $485 million revolver will be TGO's main source of liquidity. So long as the projects operate as expected, TGO should havesufficient cash flow to meet all its interest and dividendobligations, although TGO may need to rely on the revolver tomanage timing mismatches, if any, in repatriations from its variousmarkets. The need for operational liquidity at TGO is minimal andprojects have their own liquidity reserves. TGO will also receiveliquidity support from SUNE which will make interest payments onthe unsecured bonds and interest and principal payments on theOrosi project debt besides foregoing dividends for six quarters. The SGL-3 is consistent with our expectation that any projectacquisitions will require external funding.

Outlook

The outlook is stable reflecting the weighted average offtaker andsovereign credit quality that are both significantly stronger thanTGO's CFR, low operating risks for renewable projects andexpectations for stable operating performance at the variousprojects.

What could change the rating UP

TGO is expected to maintain a stable financial profile of 5.0-5.5xDebt/EBITDA as it grows. An upgrade would depend mainly upon atrack record of growth backed up by reliable performance under thePPAs by counterparties.

What could change the rating DOWN

Moody's would lower the rating in the event that higher debtlevels, poorer operating performance, currency/tax risks or priceyacquisitions pressure the financial profile. Other factors thatcould affect the rating include disruptive policy developments, ormacroeconomic developments in emerging markets that disrupt cashflows at the projects, a decline in the quality of cash flowsthrough shorter contracts, commodity price exposure, lower ratedcounterparties or risky regulatory jurisdictions. Deterioration inthe credit quality of the sponsor SUNE could be another factor in arating downgrade at TGO.

The principal methodology used in these ratings was UnregulatedUtilities and Unregulated Power Companies published in October2014. Other methodologies used include Loss Given Default forSpeculative-Grade Non-Financial Companies in the U.S., Canada andEMEA published in June 2009.

TRANS-LUX CORP: Amends Form S-1 Preliminary Prospectus------------------------------------------------------Trans-Lux Corporation filed with the Securities and ExchangeCommission an amended Form S-1 registration statement relating tothe distribution, at no charge, to holders of the Company's commonstock non-transferable subscription rights to purchase up to [*]shares of its Series B Convertible Preferred Stock at asubscription price of $[*] per share.

The Series B Preferred carries a 5.0% cumulative annual dividend onthe Stated Value of $[*] per share and will be convertible intoshares of the Company's common stock at an initial conversion priceof $[*] per share, representing a conversion ratio of[approximately] [*] shares of common stock for each share of SeriesB Preferred held at the time of conversion, subject to adjustment.

The subscription rights will expire if they are not exercisedbefore 5:00 p.m., Eastern Time, on [*], 2015, the expiration datefor the rights offering, unless the Company extends the rightsoffering period.

The Company amended the Registration Statement to delay itseffective date.

Trans-Lux Corporation incurred a net loss of $4.62 million on $24.4million of total revenues for the year ended Dec. 31, 2014,compared with a net loss of $1.86 million on $20.9 million of totalrevenues for the year ended Dec. 31, 2013.

BDO USA, LLP, issued a "going concern" qualification on theconsolidated financial statements for the year ended Dec. 31, 2014,citing that the Company has suffered recurring losses fromoperations and has a significant working capital deficiency thatraise substantial doubt about its ability to continue as a goingconcern. Further, the auditors said, the Company is in default ofthe indenture agreements governing its outstanding 9 1/2%Subordinated debentures which were due in 2012 and its 8 1/4%Limited convertible senior subordinated notes which were due in2012 so that the trustees or holders of 25% of the outstandingDebentures and Notes have the right to demand payment immediately.Additionally, the Company has a significant amount due to theirpension plan over the next 12 months.

TRUMP ENTERTAINMENT: Paza Associates OK'd to Move Slot Machines---------------------------------------------------------------The U.S. Bankruptcy Court for the District of Delaware entered anorder, at the behest of Trump Entertainment Resorts Inc., et al.,

i) authorizing Paza Associates to transfer title to the slotmachines and licenses to Taj Mahal Associates;

ii) authorizing Paza Associates and Taj Mahal Associates to enterinto and perform under the assignment agreement;

iii) releasing Paza Associates from any and all of its obligationsunder the assignment agreement.

As reported in the Troubled Company Reporter on April 21, 2015,the Court extended the deadline to file slot transfer motionuntil April 30. The deadline may be further extended by the mutualagreement of the Debtors and IGT, without further court order.

The March 12, 2015 plan confirmation order, which sets forth thenegotiated resolution of the objection to confirmation filed byIGT, provides that the Debtors will file a motion with the Courtfor an order: (a) authorizing Debtor Trump Plaza Associates, LLC,to transfer title to certain slot machines and licenses to DebtorTrump Taj Mahal Associates, LLC; and (b) authorizing Taj MahalAssociates to assume all of Plaza Associates' obligations under acertain financing and security agreement, dated May 8, 2013,between IGT and Plaza Associates, with Plaza Associates to bereleased from the obligations upon Taj Mahal Associates'assumptionof the obligations. The Confirmation Order further provides thatthe Slot Transfer Motion will be filed no later than March 27,2015.

On March 27, 2015, the Court entered an order extending the SlotTransfer Motion Filing Deadline through and including April 6,2015. The Debtors and IGT agreed to further extend the SlotTransfer Motion Filing Deadline through and including April 30,2015.

About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic CityBoardwalk casinos that bear the name of Donald Trump, returned toChapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotelslocated in Atlantic City, New Jersey. TER said it will close theTrump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent unionconcessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the jointadministration of their Chapter 11 cases and the consolidationthereof for procedural purposes only. Judge Kevin Gross presidesover the Chapter 11 cases.

TER estimated $100 million to $500 million in assets as of thebankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principalplus accrued but unpaid interest of $6.6 million under a firstlien debt issued under their 2010 bankruptcy-exit plan. TheDebtorsalso have trade debt in the amount of $13.5 million.

* * *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District ofDelaware on March 12, 2015, confirmed Trump Entertainment Resorts,Inc., et al.'s Third Amended Joint Plan of Reorganization andDisclosure Statement pursuant to Section 1129 of the BankruptcyCode.

The Debtors filed on Jan. 5, 2015, the Plan and accompanyingDisclosure Statement to, among other things, provide that holdersof General Unsecured Claims will receive Distribution TrustInterests, which will include $1 million in cash and the proceeds,if any, of certain avoidance actions. Under the revised plan,holders of general unsecured claims are estimated to recover 0.47%to 0.43% of their total allowed claim amount. The Amended Planalso includes language reflecting the recently-approved $20millionloan from Carl Icahn.

The Trustee tells the Court that he believes the ProposedSettlement is in the best interest of the UHCG estate and itsCreditors and parties in interest for the following reasons: (a)the Proposed Settlement was mediated and negotiated at arm'slength; (b) the Proposed Settlement represents a significantreduction in the asserted claim; (c) the Proposed Settlementincludes an accommodation for payment that will permit the Trusteeto preserve funds necessary to fund post-confirmation litigationfor the benefit of all Creditors; and (d) the Proposed Settlementsaves the Liquidating Estate the potentially significant cost oflitigating the Ad Hoc Committee's application for payment of feesdue to the disputed issues of fact and law.

Universal Health was founded in 2002 by Dr. A.K. Desai and grew itsoperations of offering Medicare plans to more than 37,000 membersto over 20 states.

Universal Health filed a Chapter 11 bankruptcy protection (Bankr.M.D. Fla. Case No. 13-01520) on Feb. 6, 2013, after Floridaregulators moved to put two of the company's subsidiaries in areceivership. Universal Health Care estimated assets of up to$100million and debt of less than $50 million in court filings in aTampa, Florida. Harley E. Riedel, Esq., at Stichter Riedel Blain&Prosser serves as counsel to the Debtor

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a global leader in IP-based, end-to-end networking solutions andinternational service and support. The Company sells itssolutions to operators in both emerging and establishedtelecommunications markets around the world. UTStarcom enablesits customers to rapidly deploy revenue-generating access servicesusing their existing infrastructure, while providing a migrationpath to cost-efficient, end-to-end IP networks. The Company'sheadquarters are currently in Alameda, California, with itsresearch and design operations primarily in China.

For the 12 months ended Dec. 31, 2014, the Company reported a netloss of $30.3 million on $129 million of net sales compared with anet loss of $22.7 million on $164 million of net sales during theprevious year.

As of Dec. 31, 2014, the Company had $279 million in total assets,$164 million in total liabilities, and $115 million in totalequity.

VICEROY HOMES: Canadian Court Sets Sept. 8 Claims Bar Date -----------------------------------------------------------By orders of the Supreme Court of British Columbia on July 30,2015, the Proposal Trustee has been authorized to conduct a claimsprocess for the determination of any and all claims against ViceroyHomes Ltd. and Viceroy Building Solutions Ltd.

Creditors having claims against the Companies must file proofs ofclaim before Sept. 8, 2015. Copies of a proof of claim andinstructions may be obtained from the Proposal Trustee's website athttp://cfcanada.fticonsulting.com/viceroy/or by sending a written request to the Proposal Trustee at:

WALDRON ENERGY: Receives Demand Notice From Sub. Debenture Lender-----------------------------------------------------------------Waldron Energy Corporation on Aug. 6 disclosed that is has receiveda demand notice from its secured subordinated debenture lender. The Demand Notice requires the full repayment of the $6.0 millionsubordinated debenture plus accrued interest and fees of $0.3million by the end of business on August 17, 2015. As a result of the Demand Notice, and inaccordance with interlender and subordination agreements, theDemand Notice has resulted in a cross default on the Corporation's$7.8 million senior credit facility with the National Bank ofCanada.

As disclosed in the Corporation's financial statements as at andfor the three months ended March 31, 2015, the maturity date of theCorporation's secured subordinated debenture was June 30, 2015. Since June 30, 2015, the Corporation has been in constantcommunication with its Debenture Lender and has discussed variousmaturity date extension scenarios. A key factor in thesediscussions has been a condition of the Corporation's seniorlender, NBC, that interest owing to the Corporation's DebentureLender could not be funded from existing financial resources of theCorporation. Without this payment of interest, the DebentureLender was unwilling to grant any further extensions and served theCorporation with the Demand Notice.

As previously announced on December 2, 2014, the Corporationengaged a financial advisor in order to pursue the sale of amaterial portion of the assets of the Corporation, either in onetransaction or in a combination of transactions; a merger or otherbusiness combination; the outright sale of the Corporation; or somecombination thereof. This Disposition Process resulted in amaterial asset sale that provided for a significant reduction inthe Corporation's debt when it closed the sale of its StrachanRicinus properties for proceeds of $12.3 million, $11.5 million ofwhich permanently reduced the Corporation's NBC credit facility,reducing the NBC credit facility limit to $7.8 million.

Subsequent to the sale of the Ricinus Strachan properties, theCorporation has been in constant negotiations with severalinterested parties, including entering into non-binding letters ofintent, regarding both asset sales and various forms of corporatetransactions. Unfortunately, the prolonged suppression ofcommodity prices and resulting negative impact on equity marketsresulted in an inability to secure financing for these ProposedTransactions or to secure other acceptable solutions. Mostrecently, the Corporation had signed a non-binding letter of intentwith a private company that proposed to merge with the Corporationin a recapitalization transaction in order to gain access to publicmarkets via the Corporation's Toronto Stock Exchange listing. Unfortunately, the Corporation was unable to negotiate acceptableterms for proceeding with such transaction.

About Waldron Energy

Waldron -- http://www.waldronenergy.ca-- is a Calgary, Alberta-based corporation engaged in the exploration, developmentand production of petroleum and natural gas. The Corporation'scommon shares are currently listed on the Toronto Stock Exchangeunder the trading symbol "WDN."

The B2 CFR reflects WSS's relatively small scale as a nicheprovider of software and services for corporate treasurydepartments and financial institutions. Moreover, Moody's believesthat revenue growth will be modest due to the maturity of theindustry and that there will be few opportunities for furtherEBITDA growth given the significant cost reductions over the pastseveral year. Further, some of the cost reductions achieved todate may prove unsustainable over the longer term.

Still, WSS has a solid market position, although as a nicheparticipant, and the company has a recurring revenue base driven bya subscription-based model and minimal client attrition (e.g., 95%+revenue retention rate). This produces stable funds fromoperations (FFO) though somewhat variable cash from operations(CFO) due to working capital movements. WSS's customer base isstable, comprised of 300 global corporations, leading financialinstitutions, and about 30 Central Banks. Moreover, Moody'sbelieves that WSS will maintain a conservative financial policy,and will have the capacity to quickly reduce leverage followingexpected periodic debt-funded equity distributions, such that debtto EBITDA (Moody's adjusted) will be maintained below 5x overtime.

The senior secured first lien credit facilities are rated B2, thesame as the CFR, and reflects the single class of debt in thecapital structure. These credit facilities are secured bysubstantially all assets of WSS and its subsidiaries. WSS's creditfacilities also have guarantees from its U.S. operatingsubsidiaries, which generate nearly half of WSS's revenues and cashflow.

The stable outlook reflects Moody's expectation that WSS willorganically grow revenues by at least the low single digits percentover the near term and will maintain an operating margin (Moody'sadjusted) in the mid to upper 30% level. Moody's expects that WSSwill continue to reduce leverage through a combination of EBITDAgrowth and absolute debt reduction such that the ratio of debt toEBITDA (Moody's adjusted) is on course to decline to below 4x overthe next 12 months.

Although a rating upgrade is unlikely over the next year, theratings could be upgraded over the longer term if WSS is growingrevenues organically at least in the upper single digits percent.Furthermore, Moody's expects WSS to use free cash flow to reducedebt, refraining from equity distributions, such that we believethat the ratio of debt to EBITDA (Moody's adjusted) will bemaintained below 4x.

The ratings could be downgraded if FCF generation weakens, suchthat Moody's expects FCF to debt (Moody's adjusted) to be sustainedbelow the mid-single digits percent. The rating could also bepressured if WSS engages in debt-funded shareholder-friendlyactions, resulting in debt to EBITDA (Moody's adjusted) sustainedabove 6x.

WSS, based in New York, NY, is a provider of treasury management,central banking, and foreign exchange processing software andservices, owned by ION Investment Group (a TA Associates company).

The principal methodology used in this rating was Global SoftwareIndustry published in October 2012. Other methodologies usedinclude Loss Given Default for Speculative-Grade Non-FinancialCompanies in the U.S., Canada and EMEA published in June 2009.

WAYNE COUNTY, MI: To Enter Deal with State to Fix $52M Deficit--------------------------------------------------------------Corey Williams, writing for The Associated Press, reported thatWayne County will enter into a consent agreement with the state ofMichigan in an effort to fix a $52 million structural deficit.

According to the report, county commissioners voted 12-2 on August6 to allow state Treasury officials to take an active role in thefiscal restructuring of the county, which has 1.7 million residentsand Detroit as its largest city. Past deals with Detroit and otherfiscally troubled Michigan communities have included theappointment of financial advisory boards, the submission of monthlyreports to the Treasury Department and the creation of revenue andspending plans, the report related.

* * *

The Troubled Company Reporter, on June 26, 2015, reported thatMoody's Investors Services has affirmed the Ba3 rating on thegeneral obligation limited tax (GOLT) debt of Wayne County, MI. The county has a total of $654 million of long-term GOLT debtoutstanding, of which $336 million is rated by Moody's. Anadditional $144 million of short-term GOLT delinquent taxanticipation notes (DTANs) are outstanding, with a sale for anadditional $186.9 million of short-term DTANs.

The TCR, on March 16, 2015, reported that Fitch Ratings hasdowngraded the ratings for the following Wayne County, Michiganbonds:

-- $186.3 million limited tax general obligation (LTGO) bonds issued by Wayne County to 'B' from 'BB-';

-- $51.3 million building authority (stadium) refunding bonds, series 2012 (Wayne County LTGO) issued by Detroit/Wayne County Stadium Authority to 'B' from 'BB-';

-- $203.5 million building authority bonds issued by Wayne County Building Authority to 'B' from 'BB-';

-- Wayne County unlimited tax general obligation (ULTGO) (implied) to 'B' from 'BB'.

On Feb. 10, 2015, the TCR reported that Moody's Investors Serviceshas downgraded to Ba3 from Baa3 the rating on the generalobligation limited tax (GOLT) debt of Wayne County, MI. The countyhas a total of $695 million of long-term GOLT debt outstanding, ofwhich $336 million is rated by Moody's. An additional $302 millionof short-term GOLT delinquent tax anticipation notes areoutstanding. The outlook remains negative.

The TCR, on Feb. 9, 2015, also reported that Fitch Ratings hasplaced the following Wayne County ratings on Rating WatchNegative:

WESTMORELAND RESOURCE: Amends Agreement of Limited Partnership--------------------------------------------------------------Westmoreland Resource Partners, LP, entered into Amendment No. 1 toits Fourth Amended and Restated Agreement of Limited Partnership.The LPA Amendment establishes the terms of the Partnership'spreviously disclosed Series A Convertible Units any additionalSeries A Convertible Units that may be issued in kind as adistribution. A copy of the Amended and Restated Agreement ofLimited Partnership of Westmoreland Resource Partners, LP, datedAug. 1, 2015, is available for free at http://is.gd/s4DSce

About Westmoreland Resource

Oxford Resource Partners, LP, now known as Westmoreland ResourcePartners, LP, is a producer of high value steam coal, and is thelargest producer of surface mined coal in Ohio.

Westmoreland Resource reported a net loss of $28.6 million on $322million of total revenues for the year ended Dec. 31, 2014,compared with a net loss of $23.7 million on $347 millionof total revenues for the year ended Dec. 31, 2013.

As of June 30, 2015, Westmoreland Resource had $289.9 million intotal assets, $234.7 million in total liabilities and $55.2 millionin total partners' capital.

WHISKEY ONE: Files Schedules of Assets and Liabilities------------------------------------------------------Whiskey One Eight, LLC, filed with the U.S. Bankruptcy Court forthe District of Maryland its schedules of assets and liabilities,disclosing:

Whiskey One Eight, LLC filed a Chapter 11 bankruptcy petition(Bankr. D. Md. Case No. 15-19885) on July 15, 2015. Andrew Zoissigned the petition as managing member. The Debtor estimatedassets of $10 million to $50 million and liabilities of at least $1million.

WHITTEN FOUNDATION: Gov't Units Must File Claims By Sept. 28------------------------------------------------------------The Hon. Robert Summerhays of the U.S. Bankruptcy Court for theWestern District of Louisiana set Sept. 28, 2015, as deadline forall governmental units to file proofs of claim against WhittenFoundation.

The deadline for creditors to file proofs of claim expired on July31, 2015.

About Whitten Foundation

Whitten Foundation owns and operates two apartment complexeslocated in the State of Louisiana. Whitten Foundation soughtChapter 11 bankruptcy protection (Bankr. W.D. La. Case No.15-20237) in Lake Charles, Louisiana, on March 31, 2015. TheDebtor estimated $10 million to $50 million in assets and debt.

Judge Robert Summerhays presides over the case. The Debtor hastapped Gerald J. Casey, Esq., in Lake Charles, Louisiana, as itscounsel.

The U.S. trustee overseeing Whitten Foundation's Chapter 11 casesaid it wasn't able to form a committee of unsecured creditors dueto insufficient number of creditors willing to serve on thecommittee.

WINDSTREAM SERVICES: Moody's Lowers Corporate Family Rating to B1-----------------------------------------------------------------Moody's Investors Service has downgraded the corporate familyrating (CFR) of Windstream Services, LLC to B1 from Ba3 andprobability of default rating (PDR) to B1-PD from Ba3-PD. As partof the rating action, Moody's has also downgraded the ratings onWindstream's senior secured credit facilities to Ba3 (LGD3) fromBa2 (LGD3) and its senior unsecured notes to B2 (LGD4) from B1(LGD4).

The downgrades are the result of Windstream's capital allocationpolicy, which includes a recently announced $75 million sharerepurchase authorization. Although the amount of share repurchaseis relatively modest, it represents a departure from Moody'sexpectation that Windstream would exhibit discipline towards itsstated goal of debt repayment. In addition, the company's weakoperating performance and free cash flow profile imply an ongoinginability to reduce leverage. The outlook is stable.

The downgrade to B1 reflects Moody's view that Windstream isunlikely to reduce leverage below the ratings trigger in the nearterm. Following the REIT spin, Moody's had expected Windstream toimplement a disciplined capital allocation framework that featuredhigher capital investment and debt reduction using the improved,post-spin cash flow profile. The share repurchase announcementundermines this view and implies a lack of commitment to a strongerbalance sheet.

Concurrent with the share repurchase announcement, Windstream hasarticulated a flexible approach to allocating discretionary capital(i.e. beyond maintenance capex) between shareholder returns andreinvestment. Moody's views this approach as short sighted andlikely to further erode the long term value of the business. For2015, Windstream has guided to capital spending equal to 15% ofrevenues, in line with the industry average of 15%. Should morecapital be allocated away from reinvestment to shareholder returnsthe rating would face further pressure. Proceeds from the recentCAF-2 opportunity will help sustain investment levels, although theassociated build out requirements will drive new projects as well.

Moody's projects Windstream's leverage to approach 5x (Moody'sadjusted, including the CS&L lease capitalized at 5x rent) at yearend 2015, with the potential to fall upon the monetization ofWindstream's remaining stake in CS&L. The timing and value of thistransaction remain unclear, but Moody's expects the debt repaymentfrom the CS&L proceeds to return leverage below the 4.75xdowntrigger for the new B1 rating.

Moody's views Windstream as having good liquidity, supported by $50million of cash as of June 30, 2015 and approximately $750 millionavailable on its $1.25 billion revolver. Moody's expectsWindstream to generate approximately breakeven free cash flow in2015. The relative stability of the company's cash flow generationand good visibility into capital expenditures eliminates the riskof unforeseen liquidity needs. The company's ability to borrowunder the revolving facility is subject to leverage and interestcoverage covenants. Moody's expects Windstream to have ampleamount of cushion under both of its financial covenants.

The ratings for the debt instruments comprise both the overallprobability of default of Windstream, to which Moody's maintains aPDR of B1-PD, the average family loss given default assessment andthe composition of the debt instruments in the capital structure.Moody's rates the senior secured debt including the $1.25 billionrevolver and approximately $600 million of term loans at Ba3,LGD3.

Windstream's secured debt benefits from a collateral package thatincludes a pledge of assets and upstream guarantees fromsubsidiaries representing approximately 20% of total company cashflow. Also, the secured debt benefits from a pledge of the equityinterest in certain non-guarantor subsidiaries. The ratingsrecognize that regulatory restrictions may that limit thecollateral pledge for certain non-guarantor subsidiaries. Inaddition the ratings on the secured debt reflect the change incollateral value following the contribution of Windstream's outsideplant assets to the REIT entity. For this reason, the ratings gapbetween the secured debt and the CFR is limited despite therelatively small amount of secured debt in the total capitalstructure. Windstream's senior unsecured notes are rated B2, LGD4,reflecting their junior position in the capital structure.

The stable outlook reflects Moody's view that Windstream willmaintain approximately flat EBITDA and stable cash flows over thenext few years. Moody's could raise Windstream's ratings ifleverage were to be sustained below 4.25x (Moody's adjusted) andfree cash flow to debt were in the mid-single digits percentagerange. Moody's could lower the ratings further if leverage were tobe sustained above 4.75x (Moody's adjusted) or free cash flow isnegative, on a sustained basis. Additionally, the ratings wouldface downward pressure if capital investment is reduced below thelevel sufficient to improve the company's competitive position orcost structure.

The principal methodology used in these ratings was GlobalTelecommunications Industry published in December 2010. Othermethodologies used include Loss Given Default for Speculative-GradeNon-Financial Companies in the U.S., Canada and EMEA published inJune 2009.

Windstream Corporation, Inc. is a telecommunications and ITservices provider headquartered in Little Rock, AR. The companywas formed by a merger of Alltel Corporation's wireline operationsand Valor Communications Group in July 2006. Windstream hascontinued to grow through acquisitions and, following theacquisition of PAETEC Holding Corp. in 2011, Windstream providesservices in 48 states.

The issuances on Aug. 3, 2015, resulted in an increase in thenumber of shares of Common Stock outstanding by more than 5%compared to the number of shares of Common Stock reportedoutstanding in the Current Report on Form 8-K filed by the Companywith the Securities and Exchange Commission on July 24, 2015.

The Company has issued a total of 1,676,232 shares of Common Stockto holders of its Series F, F-1, G, G-1 and Series H ConvertiblePreferred Stock upon the conversion of shares of Series F, F-1,G,G-1 and Series H Convertible Preferred Stock. The shares of CommonStock issued upon the conversion of shares of Series F, F-1, G, G-1and Series H Convertible Preferred Stock were issued in relianceupon the exemption from registration in Section 3(a)(9) of theSecurities Act of 1933. As of Aug. 7, 2015, the Company has2,308,649 shares of Common Stock outstanding.

WPCS reported a net loss attributable to the Company's commonshareholders of $11.3 million on $24.4 million of revenue for theyear ended April 30, 2015, compared with a net loss attributable tothe Company's common shareholders of $11.2 million on $15.7 millionof revenue for the year ended April 30, 2014.

As of April 30, 2015, the Company had $15.1 million in totalassets, $15.3 million in total liabilities and a $139,064 totaldeficit.

YRC WORLDWIDE: Marc Lasry Reports 17.9% Stake as of Aug. 6----------------------------------------------------------Marc Lasry, managing member of Avenue Partners, LLC, disclosed inan amended schedule 13D filed with the Securities and ExchangeCommission that as of Aug. 6, 2015, he beneficially owned 5,873,125shares of common stock of YRC Worldwide which represents 17.9percent of the shares outstanding.

On Aug. 6, 2015, Avenue Investments, Avenue International, MAP-10,Avenue PPF Opportunities and Avenue EnTrust SPC (the "SellingAvenue Funds") and UBS Securities LLC ("Buyer") entered into asecondary block trade agreement, pursuant to which the SellingAvenue Funds sold an aggregate of 1,400,000 shares of Common Stockto Buyer for $19.71 per share. The sale is expected to close on orabout Aug. 11, 2015. The Selling Avenue Funds agreed not to offer,issue, sell or otherwise dispose of, without the prior writtenconsent of the Buyer, any other shares of the Issuer or securitiesconvertible or exchangeable or carrying rights to acquire sharesfor a period of 30 days following the Closing Date.

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:YRCW) -- http://www.yrcw.com/-- is a holding company that offers its customers a wide range of transportation services. Theseservices include global, national and regional transportation aswell as logistics.

YRC Worldwide reported a net loss attributable to commonshareholders of $85.8 million in 2014, a net loss attributable tocommon shareholders of $83.6 million in 2013 and a net lossattributable to common shareholders of $140.4 million in 2012.

As of June 30, 2015, the Company had $1.9 billion in total assets,$2.4 billion in total liabilities and a $445.2 million totalshareholders' deficit.

* * *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Servicehad upgraded the Corporate Family Rating for YRC Worldwide Inc.("YRCW") from Caa3 to B3, following the successful closing of itsrefinancing transactions.

In the Jan. 31, 2014, edition of the TCR, Standard & Poor'sRatings Services said that it raised its ratings on Overland Park,Kansas-based less-than-truckload (LTL) trucker YRC Worldwide Inc.(YRCW), including the corporate credit rating to 'CCC+' from'CCC', and removed them from CreditWatch negative, where they wereplaced on Jan. 10, 2014. "The upgrades reflect YRCW's improvedliquidity position and minimal debt maturities as a result of itsproposed refinancing," said Standard & Poor's credit analyst AnitaOgbara.

At the same time, S&P raised its issue-level rating on thecompany's $700 million secured term loan B due 2019 to 'B-' from'CCC+'. The '3' recovery rating remains unchanged, indicatingS&P's expectation for meaningful (50%-70%; lower half of range)recovery in the event of a payment default.

"The upgrade reflects YRC's earnings growth and improved liquidityposition, along with our belief that gradual improvement in thecompany's operating performance will result in credit measures thatare commensurate with the rating," said Standard & Poor's creditanalyst Michael Durand. YRC began prioritizing yield and freightmix over tonnage growth in the second quarter of 2014, after itextended its labor contract with the International Brotherhood ofTeamsters. Since then, the company has delivered relatively steadyprofitability improvements and cash generation. YRC has increasedits capital expenditures to upgrade its fleet and operatingtechnology, which contributed to the company's improved operatingefficiency. As a result, S&P has revised its assessment of thecompany's business risk profile to "weak" from "vulnerable". Additionally, S&P now views the company's management and governanceas "fair", based on the company's improved performance, which hasremained in-line with management's operating and financial goals.

The stable outlook reflects S&P's belief that YRC will continue tobenefit from gradually improving market conditions and favorablepricing. S&P believes that the company's credit measures willremain in line with S&P's expectations for the current rating.

S&P could lower its ratings on YRC in the next year if the companyfaces liquidity pressures, or S&P come to believe, based on itsearnings prospects and debt burden, that the company's capitalstructure is unsustainable over the long-term.

Due to the company's highly leveraged financial risk profile,including its substantial multiemployer pension plan contingentliability, S&P views it as unlikely that it would raise the ratingover the next 12 months.

[*] Heyer-Bednar to Lead Roetzel's Business Litigation Practice---------------------------------------------------------------Roetzel & Andress LPA on Aug. 5 named Fort Lauderdale attorney LoriL. Heyer-Bednar to lead the firm's Business Litigation PracticeGroup. Ms. Heyer-Bednar is the first woman in Roetzel's history tomanage the firm's largest practice group.

"We all know Lori as the confident and energetic leader of thefirm's Fort Lauderdale office, a position she will continue to holdsimultaneously with that of Business Litigation Practice GroupManager," said Robert E. Blackham, Partner-in-Charge, ClevelandOffice and National Practice Group Chair. "I am more thanconfident that Lori will bring that same energy to her new andexpanded role, and that the group will prosper under herleadership."

Roetzel's Business Litigation group is the firm's largest practicearea team, with 40 attorneys based across the firm's 13 officeslocated throughout Ohio and Florida, and in Chicago, New York andWashington, D.C. The group's attorneys serve a wide range ofclients, from national and international corporations and closelyheld and family-run businesses, to institutions, organizations andindividuals. The litigation group possesses substantiallitigation, arbitration, and mediation experience across a numberof practice areas, including "Bet-the-Company," Business &Commercial, Liability Defense, Toxic Tort, Transportation, Labor &Employment and Environmental.

In addition, Ms. Heyer-Bednar focuses a large portion of herpractice on banking, commercial lending, real estate finance,commercial litigation, creditors' rights, business litigation andbankruptcy, with an emphasis on lender liability and asset-basedlending matters. Her practice also involves loan workouts and loanrestructuring, loan financing and title services. She representsnumerous banks and financial institutions in both state and federalcourts at both the trial and appellate court level. As part of herexperience in lender liability, she has represented large financialinstitutions in defense of forgery and negligence claims based onnegotiable instruments under the Uniform Commercial Code (UCC).

As part of her banking experience, Ms. Heyer-Bednar has representedthe Federal Deposit Insurance Corporation (FDIC) and the ResolutionTrust Corporation (RTC) in connection with failed bankinginstitutions and savings and loan associations, including fidelitybond claims, director and officer liability lawsuits, leaserepudiation lawsuits and defensive matters based upon FinancialInstitutions Reform, Recovery and Enforcement Act (FIRREA).

Ms. Heyer-Bednar is a Florida native, born in Coral Gables. Priorto joining Roetzel, she was an equity shareholder for 16 years atHaley, Sinagra & Perez, a commercial litigation and transactionalfirm. Ms. Heyer-Bednar has served as Partner-in-Charge ofRoetzel's Fort Lauderdale office since 2010.

Ms. Heyer-Bednar earned her J.D., with honors, from the Universityof Miami School of Law and her B.S., with honors, from FloridaState University. In 2015 she was recognized in the South FloridaLegal Guide as a "Top Lawyer" in Creditors' Rights and Bankruptcy.

About Roetzel

Roetzel -- http://www.ralaw.com-- is a full-service law firm with nearly 180 attorneys in offices located throughout Ohio and Floridaand in Chicago, New York and Washington, D.C. The firm providescomprehensive legal services to national and internationalcorporations, closely held and family-run businesses, institutions,organizations and individuals.

Monday's edition of the TCR delivers a list of indicative pricesfor bond issues that reportedly trade well below par. Prices areobtained by TCR editors from a variety of outside sources duringthe prior week we think are reliable. Those sources may not,however, be complete or accurate. The Monday Bond Pricing tableis compiled on the Friday prior to publication. Prices reportedare not intended to reflect actual trades. Prices for actualtrades are probably different. Our objective is to shareinformation, not make markets in publicly traded securities.Nothing in the TCR constitutes an offer or solicitation to buy orsell any security of any kind. It is likely that some entityaffiliated with a TCR editor holds some position in the issuerspublic debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies withinsolvent balance sheets whose shares trade higher than $3 pershare in public markets. At first glance, this list may look likethe definitive compilation of stocks that are ideal to sell short.Don't be fooled. Assets, for example, reported at historical costnet of depreciation may understate the true value of a firm'sassets. A company may establish reserves on its balance sheet forliabilities that may never materialize. The prices at whichequity securities trade in public market are determined by morethan a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filedChapter 11 cases involving less than $1,000,000 in assets andliabilities delivered to nation's bankruptcy courts. The listincludes links to freely downloadable images of these small-dollarpetitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book ofinterest to troubled company professionals. All titles areavailable at your local bookstore or through Amazon.com. Go tohttp://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday editionof the TCR.

The Sunday TCR delivers securitization rating news from the weekthen-ending.

This material is copyrighted and any commercial use, resale orpublication in any form (including e-mail forwarding, electronicre-mailing and photocopying) is strictly prohibited without priorwritten permission of the publishers. Information containedherein is obtained from sources believed to be reliable, but isnot guaranteed.

The TCR subscription rate is $975 for 6 months delivered viae-mail. Additional e-mail subscriptions for members of the samefirm for the term of the initial subscription or balance thereofare $25 each. For subscription information, contact Peter A. Chapman at 215-945-7000 or Nina Novak at 202-362-8552.